On the 6th & 7th of June, we hosted our annual Asia Pacific Energy Capital Assembly in Singapore for an action-packed 2-day programme filled with expert led content and timely discussions about the vision for Asia’s energy industry.

With unique & varying geographical, political & economic considerations – the energy trilemma is a tough balancing act in Asia. The region has an immediate obligation to provide secure & affordable energy in order to see economic growth whilst also not letting Net-Zero & sustainability targets slip. There is a need for a collective effort, with regional collaboration & cooperation to find this balance between energy security, equity & sustainability.

As such, we constructed an agenda addressing the need for hydrocarbons in the energy mix, exploring funding strategies for new oil and gas projects whilst implementing decarbonisation technologies and executing low carbon opportunities.

Key takeaways from the 2023 discussions:

Don’t let the perfect be the enemy of the good. When defining your pathway to a just energy transition, and consequently, the pursuit of the energy trilemma, remember it’s a marathon and not a sprint. No one has achieved the ‘perfect’ energy transition, it’s a constant work in progress that requires constant monitoring and refinement.

It’s ‘Net-Zero’ not ‘Zero’. Hydrocarbons will continue to provide the majority of the world’s energy, because currently there are no viable, commercial alternatives that can provide consistent, reliable and affordable power. Investment in oil and gas is required to get us to an orderly transition and beyond. How do we tell a better story to financiers and investors to secure funding for new projects and avoid another energy crunch?

Standardisation, subsidies and solidarity. When it comes to data reporting, carbon markets, the growth of the hydrogen market, cross-border CCS hubs and ESG standards, partnerships and collaboration between NOCs, regulators, E&Ps of all sizes, and their service providers are essential to unlocking finance and capital in the industry and enabling the energy transition across Asia.

Steering Asia away from coal to lower carbons. Developing countries across Asia are working towards significant economic growth alongside 2050 net-zero targets. Doing this journey alongside immense change in the energy system is a tremendous challenge. How can developed countries in Asia and across the world help those developing in Asia build their economies with a sustainable energy system and without a heavy reliance on coal?

The Energy Council is delighted with the feedback received so far, with speakers, sponsors and delegates remarking on the practical advice received on planning a roadmap to overcoming the energy trilemma and with real world solutions to decarbonisation over blue sky strategies.

Thank you to all who attended this year’s Assembly and to those that contributed to making it such a success. We look forward to welcoming you next year!