IndoPacific LNG Summit Bali 2024

Domestically, PT PLN emphasized its aggressive decarbonization strategy, which includes cancelling 13.3 GW of new coal power plants and projecting that LNG's share in the energy mix will rise significantly from 55% in 2024 to 70% by 2040. To address the geographical challenges of Indonesia's archipelago, the summit underscored the urgency of developing midstream infrastructure through innovative approaches like the "Hub & Satellite" model and small-scale modular liquefaction technologies. Furthermore, stakeholders stressed the need to build a competent workforce skilled in LNG importation and trading to manage the shifting market landscape.

Regarding market dynamics and future technologies, the global LNG market is expected to remain tight and volatile until at least the end of 2025, before new supplies from the US and Qatar potentially ease pressure. A major focus was placed on decarbonization innovations, with Indonesia positioning itself as a regional Carbon Capture and Storage (CCS) hub, boasting a reservoir potential of over 600 gigatons and initiating cross-border collaborations such as the Letter of Intent with Singapore. Additionally, the industry is preparing for stricter shipping regulations (EEXI/CII) by exploring next-generation fuels like green hydrogen and ammonia.

The 4th IndoPACIFIC LNG Summit highlighted the indispensable role of Liquefied Natural Gas (LNG) as a critical bridge fuel for achieving Net Zero Emissions by 2060, particularly for Southeast Asia where energy demand is projected to triple by 2050. With declining domestic gas reserves in many countries, the region is increasingly relying on LNG imports to ensure energy security and affordability. To support this, Indonesia is leveraging its 41.60 TCF of proven natural gas reserves and prioritizing major strategic projects like the Masela Abadi Field and IDD Makassar Strait to balance economic growth with environmental sustainability.

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IndoPacific LNG Summit Bali 2024

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