ASIA-PACIFIC GAS STRATEGY IN FOCUS AS GLOBAL ENERGY SUMMIT WRAPS UP IN HONG KONG

Natural gas is shifting from a transitional “bridge fuel” into a permanent security anchor essential for stabilising renewable power expansion and sustaining modern industry.

That was one of the core messages as the “Empowering a Sustainable Future” Summit concluded last week in Hong Kong. Co-hosted by The Hong Kong and China Gas Company (Towngas) and the International Gas Union (IGU) and staged in the city for the first time, the summit drew roughly 500 energy executives, policymakers, and scholars from 70 countries and regions, with online and offline participation topping 1,000.

In his opening remarks at the summit, Towngas managing director Peter Wong stressed clean-energy synergy: “Natural gas and renewables will be in partnership. Renewables provide incremental clean energy while natural gas ensures the stability of that expansion, jointly meeting surging demand while reducing emissions”.

Speaking ahead of the event, Wong also pointed out that Hong Kong’s coal-to-gas transition relies on long-term supply discipline, highlighting a 25-year fixed-price Australian gas contract signed in 2006 that has saved local customers about HK$25 billion over two decades.

IGU president Andrea Stegher noted that Hong Kong was chosen as a first-time host because its high-density environment and mature gas network demonstrate how established delivery systems can integrate modern low-carbon innovations.

“Asia is part of the growing energy schemes, not just for gas, but gas for sure can play a role, especially when we look at the important role coal still has in the energy mix in this part of the globe,” Stegher said, adding during his welcoming speech that gas is also an essential feedstock for fertilisers and medicines.

Addressing Middle East geopolitical tensions, Stegher explained that the situation represents a supply-chain delivery issue affecting about 3 per cent of global gas demand rather than a fundamental production shortage, with new global facilities maintaining overall system resilience.

Secretary for Environment and Ecology Tse Chin-wan told delegates that under Hong Kong’s first Five-Year Plan, the city is establishing green hydrogen standards and certification systems aligned with mainland and international norms while greening its port and developing sustainable aviation fuel.

Covering market growth, transition roadmaps, and green finance across four themes, the summit opened its panels with Asia Pacific: The Engine of Global Natural Gas Market Development, moderated by Professor Andrew Garnett of The University of Queensland. Woodside Energy China country chair Meggie Zhang outlined three priorities to buffer Asian markets against shocks: portfolio diversity, infrastructure optionality, and value-chain collaboration.

McKinsey associate partner Vishal Devarajan added that gas is now a structural security anchor: “It’s not a bridge to the future, it itself is part of the future”, while Cheniere Energy China chief representative Chris Li highlighted its targeted roles in displacing coal in China, supporting industry in India, and replacing declining output in Vietnam.

On contracting, Mitsui & Co. general manager Daisuke Mori and Li stressed retaining flexibility in long-term deals, while Venture Global senior manager Kelvin Tian highlighted US Free-on-Board (FOB) destination and cancellation options. Zhang emphasised cost competitiveness, policy certainty, and lower emissions for Australia, with panellists concluding “reliability and collaboration” will define the next decade.

Alongside the summit, Towngas hosted the IGU 2026 Council Meeting for around 70 international delegates and organised technical tours to its Sai Kung padel court hydrogen pilot, as well as Hong Kong’s first commercial-building hydrogen EV charger. Cultural visits to Wan Chai’s Hung Shing Temple, Central and Sheung Wan heritage sites, and Victoria Peak, capped by a Victoria Harbour night cruise, rounded out the week’s programme.

Sponsors of the "Empowering a Sustainable Future" Summit