A forum for global cooperation to discuss the liquefied natural gas (LNG) industry vision in the Asia-Pacific region will be held in Gyeongju. The gathering is expected to delve into LNG supply stability and sustainability in Northeast Asia, the world's largest LNG demand center, and the role of LNG in meeting electricity demand in the age of artificial intelligence (AI).
In particular, the strategic role of the United States, the world's largest LNG producer, in the Northeast Asia LNG market is also expected to emerge as a key topic.
SK Innovation said on the 27th that it will host the Asia-Pacific Economic Cooperation (APEC) CEO Summit session "Asia Pacific LNG Connect" on the 31st, organized by the Korea Chamber of Commerce and Industry.
The APEC CEO Summit, the Asia-Pacific region's largest annual business forum where about 1,000 CEOs of global corporations, academics, and government officials discuss global economic issues and the future, will be held at Gyeongju Arts Center in North Gyeongsang from the 28th to the 31st.
Senior Vice Chair Chey Jae-won of SK Group, CEO Choo Hyeong-wook of SK Innovation, and others will attend. In addition, leaders of 10 energy corporations from six countries, including SK Innovation, will explore ways to secure energy security, price competitiveness, energy supply stability, and sustainability in the Asia-Pacific region, moderated by Keisuke Sadamori, director of energy markets and security at the International Energy Agency (IEA).
Session 1, themed "The role of LNG in the energy transition and strengthening sustainability," will delve into the "role of LNG," which has emerged as a key energy source by replacing coal while complementing the economics of nuclear power during the energy transition amid rising electricity demand driven by AI innovation. It will also emphasize that LNG's role is being redefined beyond a simple bridge fuel to a core fuel in the final energy mix.
In addition, Sean P. of Santos, which is jointly developing the Barossa gas field in Australia with SK Innovation and Japan's JERA, will attend as executive vice president (EVP) to present the case of building the Moomba CCS (carbon capture and storage) hub using a depleted gas field and share the sustainability of LNG by leveraging Australia's carbon reduction technology capabilities.
Session 2, themed "US LNG outlook," will feature SK Innovation CEO Choo Hyeong-wook, who has participated as a long-term contract partner since the United States' "1st LNG Wave," sharing distinctive experiences in building a stable LNG portfolio based on the price competitiveness of U.S. LNG and the flexibility of contracts.
Harold Hamm, honorary chairman of Continental Resources, known as a "pioneer of the shale gas industry" in the United States, will also attend to highlight the success factors and future potential of the U.S. LNG industry, including innovative technology, policy support, and infrastructure investment that have helped the United States emerge as the world's largest LNG supplier. In particular, abundant natural gas resources that primed the expansion of the U.S. digital industry and differentiated competitiveness in production expense are expected to be showcased.
Panelists including Ariel Handler, executive vice president of NextDecade (U.S.); Nathan W., chief commercial officer (CCO) of Freeport LNG (U.S.); Okamoto Sunao, head of LNG Global at Osaka Gas (Japan); and Joo Young-jun, president in charge of business at Hanwha Future Proof (Korea), will present the need for LNG power generation and strategic utilization plans to meet surging electricity demand as AI data centers expand.
They will also examine the importance of U.S. LNG for Asia-Pacific energy security from both the supply and demand sides amid ongoing geopolitical uncertainty.
Meanwhile, at the Asia Pacific LNG Connect Night welcome event on the 30th at the Ananti banquet hall in Busan, industry officials from various countries, including Honorary Chairman Harold Hamm, will attend. The event will emphasize the role of U.S. LNG and the need for international cooperation, and seek balanced solutions to achieve both energy security and sustainability in the Asia-Pacific region.
SK Innovation CEO Choo Hyeong-wook said, "LNG is taking root as a key energy source to meet the surge in electricity demand from economic growth in the Asia-Pacific region and AI innovation," adding, "We expect this session to present a model for cooperation among countries."