LNG Emerges as a Core Energy Source in the AI Power Era
SK Innovation Leads Cooperation Among Six Asia-Pacific Countries
Sustainability Highlighted Through US Shale Gas and CCS Integration
As electricity demand surges in the era of artificial intelligence (AI), a global platform for cooperation will be held to discuss the strategic role of liquefied natural gas (LNG). Business leaders from major LNG-producing and consuming countries in the Asia-Pacific region will gather to explore ways to ensure energy security, advance decarbonization, and build a sustainable LNG ecosystem.
SK Innovation announced on the 27th that it will host the 'Asia Pacific LNG Connect' session at the Asia-Pacific Economic Cooperation (APEC) CEO Summit, which will take place on the 31st in Gyeongju, North Gyeongsang Province, organized by the Korea Chamber of Commerce and Industry. The session will be attended by SK Group Senior Vice Chairman Choi Jae-won, SK Innovation CEO Hyunwook Choo, and representatives from 10 energy companies across six countries. The session will be moderated by Keisuke Sadamori, Director of Energy Markets and Security at the International Energy Agency (IEA). Participants will discuss the stability of LNG supply and demand in Northeast Asia, price competitiveness, the role of LNG in meeting increased electricity demand driven by AI innovation, and strategies to ensure energy supply stability in the era of carbon neutrality.
The first session, themed 'Strengthening the Role and Sustainability of LNG in the Energy Transition,' will focus on LNG's role in complementing the economics of nuclear power and replacing coal. The discussion will highlight the evolving perception of LNG as not just a bridge fuel, but as a core energy source that supports the expansion of the AI industry and compensates for the intermittency of renewable energy. Sean Feutrill, Vice President of Santos in Australia, will present the 'Moomba CCS (Carbon Capture and Storage) Hub' case, which utilizes depleted gas fields. This will showcase the potential for establishing a low-carbon LNG value chain by integrating CCS technology. Executives from major Asia-Pacific energy companies such as Tokyo Gas, PTT (Thailand), and Petronas (Malaysia) will also participate to discuss strategies for decarbonizing the LNG industry and ensuring its sustainable growth.
In the second session, 'US LNG Outlook,' SK Innovation CEO Hyunwook Choo will share experiences in building an LNG portfolio through long-term contracts with the United States. Harold Hamm, Chairman Emeritus of Continental Resources, will explain the background of the US shale gas industry's growth and policy support, emphasizing the price competitiveness and technological innovation of US LNG. In addition, representatives from NextDecade, Freeport LNG, Osaka Gas, and Hanwha Futureproof will propose strategies for the strategic use of LNG power generation to meet the rapidly increasing electricity demand driven by the expansion of AI data centers. The session will also discuss how US LNG can serve as a key pillar in strengthening Asia's energy security amid ongoing geopolitical uncertainties.
The pre-event, 'Asia Pacific LNG Connect Night,' will be held on the 30th at the Ananti Banquet Hall in Busan, providing an opportunity for networking among LNG industry professionals from various countries. The event will address the role of US LNG and the necessity of international cooperation, while sharing solutions that can simultaneously achieve energy security and decarbonization. SK Innovation CEO Hyunwook Choo stated, "In the face of soaring electricity demand driven by AI innovation, LNG is a core energy source that can compensate for the intermittency of renewables and replace coal. I hope this session will serve as a catalyst for intergovernmental cooperation models that accelerate energy security and decarbonization in the Asia-Pacific region."
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