Lee Gyu-lee is a business writer at The Korea Times, focusing primarily on IT & telecommunications, the Ministry of Trade, Industry and Energy and KOTRA. Prior to this, she has covered a wide range of cultural news, from film, television and K-pop to lifestyle and fashion.
Global LNG leaders gather in Gyeongju to tackle AI-era energy demands
A photo of Vietnam’s 15-1/05 Block / Courtesy of SK Innovation
By Lee Gyu-lee
SK Innovation will host the Asia Pacific LNG Connect session on Friday during the APEC CEO Summit, organized by the Korea Chamber of Commerce and Industry (KCCI).
The session will address LNG, or liquefied natural gas, supply stability and sustainability in Northeast Asia, the world’s largest LNG-consuming region, and its role in meeting rising power demand in the artificial intelligence (AI) era.
The APEC CEO Summit, scheduled from Tuesday to Friday in Gyeongju, North Gyeongsang Province, is the Asia-Pacific region’s largest annual business forum, attracting around 1,000 global CEOs, academics and government officials to discuss key economic issues and future directions.
SK Group Senior Vice Chairman Chey Jae-won and SK Innovation E&S President Choo Hyeong-wook will outline their vision for a sustainable energy ecosystem at the LNG session. Leaders from 10 companies across six countries, including Thailand’s PPT and Japan’s Tokyo Gas, will discuss energy security, competitiveness and sustainability in a session moderated by Keisuke Sadamori of the IEA.
The United States’ strategic role as the world’s top LNG producer in Northeast Asia is expected to be a key theme.
“LNG plays a critical role in balancing renewable variability, replacing coal and meeting rising power demand fueled by economic growth and AI innovation across the Asia-Pacific,” Choo said.
“The session will propose a cooperative model to boost energy security, supply chain resilience and regional decarbonization.”
This 2019 photo shows an exploratory drilling camp at the proposed site of the Willow oil project on Alaska’s North Slope. AP-Yonhap
The first part of the session will examine LNG’s expanding role as a key energy source that complements nuclear power and replaces coal in the energy transition.
Additionally, Sean Pitt, executive vice president of Santos — which is jointly developing the Barossa gas field with SK Innovation and Japan’s JERA — will present the Moomba Carbon Capture and Storage (CCS) project.
The second part of the session will feature Choo, who will share his company’s experience in building a stable LNG portfolio based on the competitiveness and flexibility of U.S. LNG contracts.
Continental Resources founder Harold Hamm will discuss the technological innovations, policy support and infrastructure investments that have made the U.S. the world’s largest LNG exporter.
The discussion will also examine how abundant natural gas resources have fueled the growth of America’s digital economy through cost advantages and a stable supply. Panelists, including NextDecade Executive Vice President Ariel Handler and Freeport LNG Vice President Nathan Will, will highlight LNG’s strategic role in meeting soaring power demand driven by AI data center expansion.
A pre-event will take place on Thursday in Busan, bringing together industry leaders ahead of the session.