The Market for Asia Pacific LNG

Perspectives from three leaders

Over the past year, we have witnessed a pandemic, unstable market conditions and the plummeting of oil and gas prices. Despite these high levels of uncertainty, there will be a recovery. ExxonMobil has always taken a long-term view, particularly with regard to economic development and resulting energy demand scenarios.

While 2020 has seen a slowdown in growth, there are signs of an economic recovery – particularly in the Asia Pacific region. As the IMF recently projected, economies in emerging and developing Asia will contract by 1.7 percent in 2021 and are projected to grow by 8 percent next year, in both instances outperforming every other world region.

Takeshi Soda, METI Director of Oil and Natural Gas, Japan, Tengku Taufik, President and Group CEO of Petronas Malaysia and Irtiza Sayyed, President, ExxonMobil LNG Market Development Inc. came together at the APEC CEO Dialogues, Malaysia 2020 to discuss the energy challenges and opportunities facing region.

Soda of METI spoke about the benefits of using natural gas rather than coal in a country’s energy mix. He described the steps that Japan is taking and indicated that Japan is open to sharing pathways with its neighbors and other economies in the region to help support this transition.

Taufik of Petronas described the future of the energy markets in the Asia Pacific region from the point of view of a National Oil Company. He then went on to talk about Asia Pacific’s LNG energy future.

Sayyed of ExxonMobil spoke about the dual challenge of supplying affordable and reliable energy while reducing environmental impacts and the role that natural gas will play in meeting these requirements.

From left to right, Irtiza Sayyed, President, ExxonMobil LNG Market Development Inc; Takeshi Soda, METI Director of Oil and Natural Gas, Tengku Taufik, President and Group CEO of Petronas Malaysia Japan; David Sheppard, Energy Editor, Financial Times, (panel moderator).

To view the panel please use this link.

To read more about Irtiza Sayyed’s comments click here.