The World Gas Conference 2022

World Gas Conference 2022

Welcome to Daegu, South Korea

The World Gas Conference was held in Daegu, South Korea. It’s a city about 4 hours southeast of Seoul. The inland city is known for being extra hot, but also for producing artists such as Kim Gwangseok, for which a street is dedicated in the city, and famous local dishes, such as Makchang, beef intestines.

Kim Gwangseok Street photo by Little World of Mine
Makchang by Insta Bonbon1216

Korean Culture

The start of the conference was a welcome reception with both traditional music and K-pop dance themed by their worldwide hit drama “Squid Game.”

Korean Cultural Performance
K-pop dancing a la "Squid Game"

A Sustainable Future–Powered by Gas

The theme of the World Gas Conference 2022 was “A Sustainable Future–Powered by Gas,” and both these points were heard well throughout the conference, particularly in the phrases, “energy security” and “carbon reduction” or “net-zero.” But other important messages were heard, from industry executives and professionals.

"We have a common purpose in developing energy that's clean, reliable and secure..." - CEO, Tellurian, Octavio Simoes
"We need big tanks and big ships to make LNG affordable." - Heebong Chae, CEO, KOGAS

The Role of Natural Gas

Throughout the conference one theme became clear and that was that the energy transition and moving toward a lower carbon emission future meant the use of natural gas. 

"Natural gas is the fuel of the energy transition." - Thomas Maurisse of TotalEnergies

Plenaries and Breakout Sessions

There were 7 plenaries and over dozens of breakout sessions, of either “Current Debates” and “Industry Insights.” The last plenary dealt with energy access and included representation from South America and Africa.

Luz Stella Murgas President Naturgas and Dr. Philip Mshelbila, Managing Director of LNG Nigeria talk about the importance on having a workable “value chain” for energy infrastructure as well as ensuring the projects meet the energy security of the people. Dr. Mshelbila  points out we need a better model.

Luz Stella Murgas President Naturgas
Dr. Philip Mshelbila, Managing Director of LNG Nigeria

Natural Gas Prices

There were many interesting sessions, but the Industry Insights talk on Global Gas Pricing was a full house with attendees standing in the doorway.  The discussions featured a case study using RBAC’s G2M2 Market Simulator for Global Gas and LNG for price forecasting and scenario analysis, as well as a discussion on price reviews in LNG contracts and a very interesting correlation with EU pipeline prices vs JKM.

To see Dr. Brooks’ presentation, please click here.

Will Pulsford, (Manager, Consulting Asia Pacific of Poten & Partners), Stephen Thompson (Global Manager, LNG & Natural Gas Advisor Poten & Partners), Dr. Matthew Secomb (Partner of White Case), Dr. Robert Brooks (Founder and CEO RBAC), Amir Foster (Executive Director, Israeli Natural Gas Trade Association)
Dr. Robert Brooks, Founder and CEO of RBAC
Speaking to a Full House

Energy to the Third World

In the discussion “Impacts of Carbon Neutrality Targets on Global Economic Growth,” Dr. Robert Brooks of RBAC asks about the challenges to delivering energy to the third world. The consensus was a better regulatory environment, handling affordability for the consumer with private and public sector cooperation.

Yeimy Baez Vice-President Gas Ecopetrol Group
James Rockall CEO & Managing Director, World LPG Association

Exhibition Space

National and International companies flooded the West Wing of EXCO, the exhibition and convention center in Daegu, while smaller companies and tech were in the East Wing. With in-person conferences coming back, there were lots of people to meet from both large and small companies as well as media, such as Kenna Bravo from GNL Global, reporting on gas and LNG in Spanish, especially for Latin America, as well as Jenny Yang from S&P Global, making for very interesting and insightful conversations.

Kenna Bravo, GNL Global , Cyrus Brooks, RBAC
Jenny Yang of S&P Global (center) James and Cyrus Brooks of RBAC (either side)

Hydrogen Continued to be a Buzz

From hydrogen supply chains to drones, from pipelines to hydrogen cell-fueled trucks and buses, there was a lot going on with hydrogen. South Korean’s President Yoon Suk-yeol spoke at opening of the World Gas Conference 2022 while Hyundai and Posco showed off their hydrogen vehicles and pipelines. 

Posco's Hydrogen Pipelines
President Yoon called for the right mix of nuclear power, renewable energy sources and natural gas and further vowed to support of the budding hydrogen industry
Hyundai's Hydrogen Electric Bus
Hydrogen Fuel Cell Truck

Culture Exhibitions

Cappuccino machines were ubiquitous, yet some companies brought their local culture with them, such as Petronas with a Malaysian musical performance and KOGAS with their Pegasus basketball team.

Malaysian Cultural Performance
Korean National Basketball Team Pegasus, Sponsored by KOGAS

Interviewed by the Times

Dr. Brooks was also interviewed by the Times, Korea, about the role of natural gas and tools that could help Korean companies during the energy transition. For the English version, click here. For Korean, click the picture.

RBAC at the World Gas Conference

While attending the World Gas Conference, RBAC Senior Staff met with natural gas and LNG companies to discussing the importance using market simulation to develop realistic scenario analysis to support their corporate strategy for energy security and the energy transition. 

Dr. Brooks noted, “Russia’s war on Ukraine has led to upheaval in European energy markets and this upheaval has spread around the world. Many countries have been forced to reconsider their national self-interest regarding energy security. However, they typically do not have the analytics capability to develop workable energy security and energy transition strategies for dealing with their enormous uncertainties. It is RBAC’s mission to provide such analytics capability. We provide expert guidance through bespoke studies addressing specific company or country situations. For organizations which prefer to have their own capabilities in-house, we provide licenses to our simulation systems and databases along with intensive training and support so that these organizations are enabled to ‘do it themselves”. 

RBAC has been at the forefront of developing gas and LNG market simulation systems for Global and North American gas markets for over two decades. 

James Brooks, Director of Business Development RBAC with Dr. Robert Brooks, Founder and CEO RBAC

World Gas Conference 2025

The next World Gas Conference will be held in Beijing, May 19th-23rd, 2025, the home country of the new president of the International Gas Union (IGU) for the next 3 years, Li Yalan. The IGU’s purpose is stated: 

“As a worldwide non-profit organization that was founded in 1931 the mission of IGU is to advocate gas as an integral part of a sustainable global energy system and to promote the political, technical and economic progress of the gas industry.”

In Summary

The World Gas Conference brought together the entire world on the subject of natural gas, LNG and energy. Some of our main takeaways are:

  • The industry needs a better model to lead to better energy policy and planning.
  • Natural gas and LNG are the fuels of the energy transition.
  • The future is one of reduced carbon and methane emissions.
  • Energy policy and investment must be on the same page.
  • For the third world, energy infrastructure must be built, but costs, prices, and supply must be done in a way to be able to reach all the people.
  • The potential of hydrogen as a fuel of the future was another featured topic.  Many speakers mentioned it but few had concrete plans for how it could replace natural gas in world markets.
  • The issue of Energy Security was on everyone’s mind and rose to parity with Energy Transition as the dominant theme of the Conference.

RBAC’s market simulation systems can help. Contact us to find out more. Till next time, see you at the next conference!

RBAC, Inc. is the market leading supplier of global and regional gas and LNG market simulation systems. The GPCM® Market Simulator for North American Gas and LNG™ is the most widely used gas market simulation system in North America. RBAC’s G2M2® Market Simulator for Global Gas and LNG™ is designed for forecasting gas and LNG production, transportation, storage, and deliveries across the global gas markets. These systems provide industry analysts powerful tools for supporting corporate investment and M&A strategy, achieving environmental and sustainability goals, risk analysis and trading.

Contact Us

E-mail:

contact@rbac.com

Contact Numbers:

Administration:   (281) 506-0588
Sales:                    (281) 506-0588 ext. 126
Support:               (281) 506-0588 ext. 125

E-mail:

contact@rbac.com

Contact Numbers:

Administration:
(281) 506-0588
Sales:
(281) 506-0588 ext. 126
Support:
(281) 506-0588 ext. 125

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