Latest news with #WorldGasConference
Tahya Masr
10 hours ago
- Business
- Tahya Masr
Egypt Assumes Vice Presidency of the International Gas Union, Paving the Way for 2028 Presidency
For the first time ever, Egypt has officially assumed the position of Vice President of the International Gas Union (IGU) through the Egyptian Gas & Energy Association. This step paves the way for Egypt's upcoming presidency of the next triennium (2028-2031). This role reflects increasing international confidence in Egypt's capabilities to effectively contribute to shaping the future of global energy, marking it as the first country from Africa and the Middle East to hold this prestigious position. Eng. Khaled AbuBakr, Chairman of the Egyptian Gas & Energy Association (EGEA), has taken up the role of IGU Vice President. In this capacity, he participates in all meetings and activities of the IGU and the Executive Committee. He also represents the IGU in the ongoing gas debates, such as the G7, G20, and UN Climate Change Conferences, in addition to the major international conferences, to advance its strategic vision and enhance its global influence. Eng. Mohamed Fouad, Secretary General of EGEA, serves as the Egyptian Presidency Team Director for the IGU, in addition to his role as Chair of the National Organization Committee for the 2031 World Gas Conference (WGC), which is to be held in Egypt. Meanwhile, Eng. Karim Shaaban, Head of the Strategy and Planning Committee of EGEA, holds the position of Vice Chair of the Coordination Committee and a member of the Executive Committee of the IGU. His responsibilities include overseeing the work of the IGU's committees and contributing to the preparation and submission of the Triennial Work Programme (TWP) to the Executive Committee. In this context, Eng. Khaled AbuBakr, Vice President of the IGU and Chairman of EGEA, stated: 'From Egypt and Africa, we embark to power the whole world with secure and clean energy. This leadership role represents a significant step through which we intend to enhance energy security by developing gas policies and infrastructure, improving the Gas industry's resilience to price volatility, providing necessary investments, and accelerating the transition towards more sustainable energy sources. We are fully committed to coordinating with the Italian Presidency of the IGU to ensure the Union's objectives are achieved during this phase.' Abubakr added: 'Through this position, we aim to transform the Egyptian experience into an international model to be emulated. This role enables Egypt to strengthen international cooperation and attract investment, supporting its pursuit of sustainable development and solidifying its role as a regional energy hub. We deeply appreciate the Egyptian government's support in securing this nomination.' Eng. Mohamed Fouad, Secretary General of the Egyptian Gas & Energy Association (EGEA), also outlined the Association's expanded strategy, which extends beyond natural gas to include low-carbon technologies and renewable energy. This expansion stems from the EGEA's strong belief in the importance of a balanced and inclusive energy transition. Fouad added, "The Association has launched its new Advisory Board, comprising a distinguished group of senior leaders from both the public and private sectors, as well as international partners operating in Egypt's energy and gas sector. The private sector will provide deep insights into market trends and investment opportunities, while the public sector will ensure initiatives align with regulatory policies." For his part, Eng. Karim Shaaban, Vice Chair of the Coordination Committee and member of the Executive Committee of the IGU, and Head of the Strategy and Planning Committee of EGEA, stated: "Through this committee, we aim to enhance internal integration among the IGU's committees and working groups, ensuring its initiatives align with member states' priorities. We also contribute to preparing the program for the 2028 World Gas Conference and collaborate with the leadership of the R&D and Innovation Committee to formulate sessions for the International Gas Research Conference (IGRC). These efforts contribute to elevating the Union's standing in the global gas industry." As a result of winning the presidency of the International Gas Union (IGU) for the 2028-2031 term, Egypt is set to host the 31st edition of the World Gas Conference (WGC) in 2031, marking the IGU's centenary anniversary. This event stands as the global gas and energy industry's most significant gathering, convening top experts and decision-makers to delve into the sector's primary challenges and opportunities. Hosting the WGC will underscore Egypt's leadership in energy transition and technological innovation, along with its initiatives to establish a regional green energy hub, ultimately bolstering its standing as a prime destination for investment and tourism .
Bloomberg
23-05-2025
- Business
- Bloomberg
Big Gas Cheered by Evidence Chinese Demand Remains Strong
Welcome to our guide to the commodities markets powering the global economy. Today, energy reporter Dan Murtaugh takes the pulse of the gas world at a major industry conference in Beijing. China greeted global energy giants at the World Gas Conference in Beijing this week with a most welcome gift — tangible evidence that demand from the world's largest importer is still strong.
The Star
23-05-2025
- Business
- The Star
China's LNG traders emerge as worldwide swing suppliers
PetroChina Co, the country's top gas supplier, is looking for upstream stakes in liquefied natural gas export projects. — Bloomberg BEIJING: Chinese gas firms are taking advantage of diverse supply sources and a flexible power generation system to lean into the role of global swing suppliers. PetroChina Co, the country's top gas supplier, is looking for upstream stakes in liquefied natural gas (LNG) export projects or flexible purchase agreements to help turn from a buyer in overseas markets into a bigger trader, said Wang Haiyan, deputy general manager at the firm's trading arm. The company is looking to build its LNG portfolio to 35 million tonnes by 2030, a jump of 75% from now, he said during a recent panel discussion at the World Gas Conference in Beijing. For China, it's a kind of role reversal. Asia used to be the main source of demand and price-setting, while European nations acted as a sink, sopping up shipments in the event of a glut. That changed after Russian pipeline gas flows to the continent were drastically cut following its invasion of Ukraine. 'The balancing role that used to be played by the European market has become China's role,' said Zhu Yanyan, general manager for the trading and commodities center at a unit of Cnooc Ltd, the country's largest LNG importer. 'The reason is quite simple – because China is well supplied with multiple resources.' For example, Zhu said, China reduced LNG imports by about 20% in the first quarter as it redirected cargoes to Europe, where gas prices were soaring. China made up about 75% of that gap with increased domestic production and pipeline imports, Zhu said. The Asian nation has also boosted clean energy generation after installing a record number of wind turbines and solar panels, giving its gas power plants more flexibility to reduce electricity generation, Zhu said. Other major gas demand sectors, such as factories, transport and home-heating, are less flexible. Part of the shift for China is also the pursuit of profits. Sometimes it doesn't make economic sense to bring LNG shipments into the domestic market when they can be resold for higher prices overseas. China's gas imports have fallen in 2025, a decline centred on seaborne shipments of LNG that slumped 22% through April from the previous year. Demand for LNG – the fuel carried in super-chilled tankers – is headed for its first annual drop since the height of the pandemic, just as new export projects are slated to come online, led by the shale gas fields of the United States. — Bloomberg
Qatar Tribune
23-05-2025
- Business
- Qatar Tribune
Kaabi meets with senior executives of Chinese energy firms
Minister of State for Energy Affairs and President and CEO of QatarEnergy HE Saad Sherida Al Kaabi held cooperation talks with senior executives of major Chinese energy companies on the sidelines of the World Gas Conference in Beijing. Minister Al Kaabi met separately with DAI Houliang, chairman of China National Petroleum Corp (CNPC), ZHOU Xinhuai, president of China National Offshore Oil Corporation (CNOOC), and MA Yongsheng, chairman of China Petroleum & Chemical Corporation (Sinopec). Discussions during the three meetings focused on strengthening existing and future cooperation and bilateral relations in the energy sector. The minister was accompanied during the meetings by a high-level delegation.
Qatar Tribune
21-05-2025
- Business
- Qatar Tribune
Gas to remain backbone of global growth for next century: Al Kaabi
Tribune News Network Doha Minister of State for Energy Affairs and QatarEnergy President and CEO HE Saad Sherida Al Kaabi has emphasised that sustainable economic growth across the globe is not possible without fuel, underscoring natural gas as the most reliable, affordable, and widely accessible option. Speaking during a leadership dialogue at the World Gas Conference (WGC) in Beijing, Al Kaabi reiterated that while a diverse energy mix is essential, natural gas will continue to serve as the backbone of global economic development. 'We need all kinds of fuels and a wide energy mix,' he stated, 'but gas stands out as the best source—reliable, affordable, and available to most countries. It is here to stay for the next century.' Al Kaabi emphasised that each country's energy mix will differ based on local conditions and intermittency factors—such as when the sun does not shine, the wind does not blow, or the rain does not fall. 'For us in Qatar,' he said, 'we have plenty of sunshine, and today we meet 15 percent of our electricity demand from solar power. We are working to double that to 30 percent.' Addressing a question on net-zero emissions as an environmental target, Al Kaabi noted that while many countries and companies have announced commitments to achieve net-zero by 2050, it has become evident that many are now reconsidering those goals. 'People are realising that it is very difficult to achieve net-zero by 2050 without a real, actionable plan—and without taking into account their energy needs and economic development requirements,' he said. He pointed out that Qatar and QatarEnergy were among the few who were transparent from the outset, openly stating that they would not be able to meet net-zero targets by 2050 under current conditions. Speaking on the progress of Qatar's North Field expansion, Al Kaabi said, 'We will begin operations of the first LNG train from the North Field East development — which has a production capacity of 32 million tonnes per annum — by mid next year.' 'Subsequent trains will follow thereafter. As for the North Field West project, it is currently in the engineering phase and is expected to enter the construction phase around 2027.' Highlighting the scale of the expansion, Al Kaabi stated, 'We will more than double our LNG production — from the current 77 million tonnes to 160 million tonnes annually. This includes output from our Golden Pass project in Texas, which is expected to come online later this year.' He further noted, 'QatarEnergy will become the world's largest LNG exporter as a single company, while Qatar will remain the second-largest LNG-exporting nation after the United States for the foreseeable future. We are committed to playing a major role in supporting global economic growth by supplying the cleanest fossil fuel available.' Al Kaabi revealed that the company is significantly expanding its footprint in the petrochemical sector, with major projects underway in both the United States and Qatar. 'QatarEnergy is doubling its production capacity across several segments of the petrochemical industry,' he said. 'We are building the world's largest ethane cracker in the United States, expected to begin production in the first quarter of 2027. At the same time, we are constructing the largest ethane cracker in the MENA region in Ras Laffan, which is also set to commence operations in early 2027,' he said. Describing the scale of the investment, Al Kaabi noted, 'Together, these two projects represent the largest single investment by one company, undertaken in partnership with our long-standing collaborators at CPChem.' On the strategic energy relationship with China, he highlighted China's rapid economic growth and ambitious energy transition efforts. 'China's growth is tremendous,' he said. 'They are developing a well-balanced energy mix, and their progress in renewable energy has far exceeded expectations. They are also incorporating more natural gas into their energy portfolio.' Hughlighting China's importance as a key partner for QatarEnergy, Al Kaabi said, 'China is our largest LNG buyer and a strategic partner in our North Field East (NFE) and North Field South (NFS) expansion projects. In addition, a significant portion of our historic LNG shipbuilding programme is being executed in Chinese shipyards.' World Gas Conference, the premier global forum for the gas and energy industry, is being held for the first time in China under the theme 'Energizing a Sustainable Future.'
