ADIPEC Virtual 2020 urge greater oil and gas producer-consumer collaboration

Ministers from across Asia have used the ADIPEC 2020 Virtual conference and exhibition to urge greater collaboration between oil and gas producing nations and consumer-led countries to ensure business resilience in a post-COVID world and during the transition to lower carbon energy.

Addressing the ADIPEC 2020 Virtual Strategic Conference on day one of the biggest oil and gas event of 2020, ministers from Japan, India and Thailand were unanimous in their belief that collaboration is the way forward in overcoming the energy sector's challenges and to drive energy strategy transitions to facilitate carbon emission reductions.

Japan's Minister of Economy Trade and Industry, Kajiyama Hiroshi, used his keynote address to stress his country would focus on decarbonisation to become carbon neutral by 2050.

"As the demand for energy continues to grow across the world, especially in Asia, Japan will support the clean use of fossil fuels in developing countries," he asserted, adding that his country would achieve 'carbon neutral' status throughout its LNG value chain and lead the world in carbon recycling, reusing CO² from fossil fuels.

Meanwhile, India's Minister of Petroleum, Natural Gas & Steel, Sri. Dharmendra Prabhan, said his country would be the key driver of global energy demand for decades to come, pointing out that the nation's energy demand has already reverted to pre-COVID levels. He predicted India would account for 12 percent of global energy demand by 2050.

Thailand's Deputy Prime Minister and Energy Minister, Supattanapong Punmeechaow, used his ADIPEC 2020 Virtual address to set out his country's ambitions to be an LNG trading hub, stating that collaboration was the only way forward.

ADIPEC 2020 Virtual, the online version of the world's largest annual oil and gas exhibition and associated conferences, which is being held under the patronage of the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, runs until November 12.

It is hosted by ADNOC and organised by dmg events at the Abu Dhabi National Exhibition Centre.

(Reported by Nafeesathul Luhluh)