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by NURUL NAJMIN ABU BAKAR
GAS continues to play a crucial role in meeting Asia’s growing energy demand, despite the rising momentum behind renewable energy (RE) adoption.
Petroliam Nasional Bhd (Petronas) executive VP and CEO of gas and new energy Datuk Adif Zulkifli said gas remains a relevant and critical energy source for the region due to its stability, security of supply and capacity to support sustainable energy needs.
“Gas has its own advantages. It is not only stable and secure, but also capable of meeting energy demands in a sustainable manner.
“Currently, there is an abundant supply from countries such as the US, Canada and Alaska,” he said during the Leadership Dialogue: Gas and Liquefied Natural Gas (LNG) — Long-term Investment session at the Energy Asia 2025 conference today.
He added that advancements in LNG technology have improved accessibility and opened up significant opportunities for energy-hungry markets in Asia.
Asian countries need to adopt pragmatic energy policies that reflect real national circumstances and varying levels of development, even as they commit to net-zero targets.
“In the energy transition, gas has a large role to play in replacing coal, thereby enabling progressive carbon emissions reduction,” he said.
Adif noted that economies such as Malaysia, Vietnam and China have long depended on domestic gas supply, but declining reserves are accelerating the need for LNG imports as a long-term solution.
He said infrastructure is key. Without regasification terminals, gas cannot reach end-users.
“In China alone, nearly 50 million tonnes of regasification capacity is currently under development. Thailand is building its third terminal, while Malaysia is also in the mid of expanding its infrastructure,” he said.
He stressed that financing remains a critical enabler for gas-related developments.
“We need to mobilise a mix of funding, including green financing and strategic investments, to realise gas’ full potential as a primary energy source in the future,” he said.
Meanwhile, ConocoPhillips Co chairman and CEO Ryan Lance expressed confidence in the long-term outlook of the LNG sector and reaffirmed the company’s commitment to advancing new projects.
He said LNG buyers are increasingly seeking flexibility in contract terms, such as shorter durations and broader delivery options.
“The question is how prepared the industry is to offer that level of flexibility. What is certain is that these options are important to unlock opportunities in major importing markets,” he said.
Lance also noted that despite fluctuations in LNG prices, long-term pricing trends remain positive, keeping the sector attractive for investors.
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