On the 31st, SK Group Senior Vice Chairman Choi Jae-won said, "Liquefied natural gas (LNG) is no longer a transitional fuel but the key fuel that will lead the era of artificial intelligence (AI)," adding, "To ensure stable and sustainable supply, we must expand global cooperation."

That day, Senior Vice Chairman Choi, in a keynote address during the Asia-Pacific Economic Cooperation (APEC) chief executive officer (CEO) Summit "Asia Pacific LNG Connect" session at the Gyeongju Arts Center in Gyeongju, Gyeongsangbuk-do, stressed the importance of LNG in driving the AI era and the need for international cooperation for stable supply.

Chey Jae-won, Senior Vice Chairman of SK Group, delivers the keynote at the Asia-Pacific Economic Cooperation CEO Summit session Asia Pacific LNG Connect at the Gyeongju Arts Center in Gyeongju on the 31st./Courtesy of SK Innovation

Senior Vice Chairman Choi said, "As AI grows rapidly, power demand is also surging. Energy consumption by data centers is expected to reach 1,000 terawatt-hours (TWh), approaching 4% of the world's electricity by 2030, comparable to the amount consumed by all dwellings in the United States. Where to supply this enormous energy, and how to supply it reliably and in an eco-friendly way, is a crucial global challenge."

As a solution, he pointed to the importance of U.S. LNG. He said, "LNG is not only an important fuel driving the energy transition but also a catalyst for innovation and the future. In particular, U.S. shale gas and LNG are the core of reliability. Even when Europe's natural gas supply was unstable recently, it was U.S. LNG that kept factories running and homes warm."

Senior Vice Chairman Choi added, "Ensuring sustainable and reliable energy for AI is impossible for any single organization or country alone. To this end, governments and corporations worldwide must join forces to respond together."

After Senior Vice Chairman Choi Jae-won's presentation, executives from major LNG corporations took the stage for a panel discussion. SK Innovation CEO Choo Hyeong-wook, Harold Hamm, honorary chairman of Continental Resources in the United States, Yomiko Yao, managing executive officer of Tokyo Gas in Japan, and Shamsairi Mohd Ibrahim, vice president of Petronas in Malaysia, joined as panelists and shared the status of each company's LNG business.

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