IGS Industrial Gas Gathering 2023

Regarding global market dynamics, Keynote Speaker Dr. Fereidun Fesharaki highlighted that the fundamentals of the oil and gas industry remain strong, with gas demand expected to increase until the mid-2040s. While the current market faces tightness due to geopolitical sanctions and production cuts, a significant shift is anticipated between 2025 and 2028 as new international projects add 200 mtpa of LNG capacity. Consequently, LNG prices are expected to weaken starting in 2026, with long-term prices projected to range around US$ 8 to US$ 9 per mmbtu in Asia.

For Indonesia, this upcoming surplus in global LNG supply presents a strategic opportunity to utilize more affordable gas to drive economic growth and support the energy transition. The forum recommended that Indonesia adopt a realistic approach to energy security by diversifying gas sources and offering competitive incentives to investors to bring domestic resources to market. Furthermore, stakeholders were advised to carefully observe global technology trends and cost reductions driven by US and EU subsidies before committing substantial resources to new technologies.

The Industrial Gas Gathering 2023, organized by the Indonesian Gas Society (IGS), focused on navigating the complexities of the global market to support Indonesia's long-term economic goals. IGS Chairman Aris Mulya Azof emphasized that realizing the "Golden Indonesia 2045" vision, which targets an average GDP growth of 7%, requires a substantial increase in affordable clean energy supply. To achieve this, the government and industry must collaborate to strategically balance local and international gas supplies while simultaneously increasing renewable energy capacity.

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IG Industrial Gas Gathering 2023

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