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Singapore – Soaring demand for liquefied natural gas (LNG) across Asia is driving major new investments into exploration and infrastructure capabilities. This will stimulate growth in the region’s rapidly expanding offshore and marine sector, as new developments will require additional offshore assets and support services from regional players. Furthermore, due to the synergies between Asia’s gas reserves and ship-design capabilities, the region could pioneer a long-term move toward more LNG utilization to reduce vessel emissions and fuel bills of the offshore support vessels supporting these projects. However, seizing these growth opportunities and moving towards gas-powered vessels of the future, will require multi-party collaboration between energy companies, vessel operators, shipyards, technology providers, marine fuel suppliers and governments to realize the mutual benefits.
This was the consensus reached at a recent industry roundtable in Singapore, comprising experts from across Asia’s offshore marine industry, to identify the major growth drivers and opportunities of the sector in Singapore and around the region. Hosted by Seatrade, the event was a curtain-raiser to the first Seatrade Offshore Marine Asia conference and exhibition, set to take place in Singapore between April 25-27, 2012, to complement Maritime Week.
Demonstrating a strong appetite to source and convert LNG, in 2010, two of the three largest countries based on total liquefaction capacity came from within the region, in the form of Indonesia and Malaysia . Globally, Japan leads the way with the most LNG receiving terminals in the world, 28 in operation at the end of 2010.
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