Gastech has made its return to the events stage, in a virtual guise, as the world’s leading event for the gas, LNG and energy industry began with an exploration of the latest commercial strategies and trends for these sectors yesterday.

The Gastech Virtual Summit 2020 is being held in place of the Gastech exhibition and conference that had been scheduled to take place this week in Singapore.

dmg events and the Gastech Governing Body, in consultation with Enterprise Singapore and the Singapore Tourism Board, collectively took the decision to postpone the original physical event to 13th – 16th September 2021 due to concerns around the global Covid-19 pandemic, accessibility and the wellbeing of speakers, delegates, exhibitors and visitors.

The event has therefore taken place in a digital format this week, beginning with an opening keynote yesterday (Monday) from Singapore’s Minister for Trade & Industry, Chan Chun Sing.

Officially opening the Gastech Virtual Summit, he reflected on Singapore’s unwavering commitment to being an LNG trading hub and wider Asia’s role firmly at the heart of global energy demand growth, with gas and LNG continuing to underpin the needs of millions for sustainable, low carbon affordable energy.

“The Singapore government remains committed to develop Singapore as an LNG trading hub. While the external environment is uncertain, the long-term drivers for LNG demand, especially in Asia, remain very strong, and Singapore can be a launchpad for you to capitalise on this potential.”

As the day proceeded to unfold, the Honourable Seamus O’Regan, Minister for Natural Resources of Canada, followed up the welcome address and led on the Summit’s mandate for the energy transition. He stated, “Just as our goal of net-zero emissions by 2050 needs our oil and gas industry, our oil and gas industry needs net-zero.”

“We must move now on our common mission, a net zero economy by 2050, a global economy that continues to grow, and an energy transition that leaves no one behind.”

“We do need oil and gas,” he continued. “We are good at finding and producing it responsibly, but our growth is going to be at a low carbon end.”

Speeches throughout the day continued to address the many interlinked strands of this discussion, including talks from Maarten Wetselaar, Integrated Gas & New Energies Director and Member of the Executive Committee at Shell, Pratima Rangarajan, CEO of OGCI Climate Investments, and Lorenzo Simonelli, Chairman, President & CEO of Baker Hughes.

Simonelli had reflected, “The world will continue to demand more energy every day, and yet the world needs more from energy through decarbonisation at the same time. This is the dual challenge, more energy, less emissions. Technology for the energy industry and the right talent to invent and implement it, it’s the only true way we can overcome the dual challenge today.”

Leading the conversation today, during day two of the event, will be speakers such as Joseph McMonigle, Secretary General of the International Energy Forum, Prabhat Singh, Chairman & Managing Director of Petronet LNG, Anatol Feygin, Chief Commercial Officer of Cheniere, and Sanjiv Lamba, Executive Vice-President for APAC at Linde;

The Summit features over 200 industry leaders outlining and sharing strategies and visions for confronting the new and changed energy markets. Over 1,500 delegates had been registered to participate across the event.