Natural gas to stay for the long haul beyond 2050: Singapore International Energy Week panellists
It will be a source of power generation, a stabiliser for the power grid and support for decarbonisation
Natural gas will continue to play a significant role in power generation, grid stability, and decarbonisation efforts beyond 2050, according to panellists at the Singapore International Energy Week. Thorbjorn Fors, Siemens Energy, sees natural gas as a source of power generation, a stabiliser for the power grid as renewables are added, and a supporter of decarbonisation due to its clean nature.
Leong Wei Hung, SLNG CEO, believes gas will be essential for industries in Asia due to energy demands, emphasising the need for secure and consistent energy supply. Anna Collyer, Australian Energy Market Commission Chair, also emphasises the continued importance of gas in the electricity market till 2050 and beyond, even as battery storage replaces gas as a peaking fuel in Australia.
Lim Wee Seng, DBS' institutional banking group, highlights the "Middle East plus one" strategy, where governments diversify their energy sources, including renewables and gas-fired power plants, to strengthen domestic energy supplies and combat price shocks from supply disruptions. Sembcorp Industries CEO Wong Kim Yin points out the industry's challenge of managing rising costs due to increased competition for capital and power generation equipment, as well as the need for affordability in the energy trilemma.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
