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The last Gastech Singapore Exhibition covered a total area of 50000 square meters, with 700 exhibitors from China, Japan, Russia, Dubai, Türkiye, Germany, the United Kingdom, Australia, Iran, etc., and 35000 participants. Gastech Singapore focuses on the current transformation of the energy industry, including new business models, innovative technologies, and new methods for power generation, transmission, and distribution. Providing an unparalleled platform for global natural gas companies, organizations, and influential individuals to share their perspectives on the most relevant issues affecting our industry today and conduct business.
As a world touring exhibition, the 33rd Singapore International Gas Exhibition (Gastech) will be held from September 11-14, 2023 at the Singapore Exhibition Center. It is expected that more than 1000 companies will participate and the exhibition area is expected to reach 70000 square meters.
The exhibition will attract well-known European and international enterprises. Here, you can have on-site conversations with global exhibitors, visitors, and even government agencies. This is an excellent opportunity to build a network of contacts and gain a first-hand understanding of local policies, strategies, and advanced technologies in the natural gas, liquefied gas, and energy industries.
Exhibition Scope
Upstream industries: natural gas exploration and production, shale gas production technology and services, enhanced and advanced technologies, improved hydrocarbon recovery gas field services and management; Mid stream industries: processing, production, liquefaction of natural gas, LNG, NGLs, transportation, storage, terminal and regasification of LNG and NGLs, floating LNG and FSRU technology, pipeline maintenance and integrity;Downstream industries: power generation and utility technology, transmission systems, operations and technology, smart grids and digital services, natural gas end-user innovation, natural gas vehicles - commercial and household, derivatives and chemicals;
Currently, addressing global climate change and promoting energy transformation has become a consensus among the international community and the energy industry. The world energy transformation continues to advance amidst challenges, and until significant breakthroughs are made in non fossil energy technologies, the energy transformation still mainly relies on clean and low-carbon development of fossil fuels. Since 2017, the global economy as a whole has been improving, and energy consumption has steadily increased. The proportion of natural gas consumption in primary energy consumption increased by 0.14 percentage points. The significant growth in Asia Pacific consumption offset the first negative growth in North American consumption in five years. In 2018, the global energy consumption structure further accelerated its transformation towards cleanliness and low-carbon, with natural gas consumption steadily increasing to 26%, leading the growth rate of global energy.
Review of the International Natural Gas Market in Recent Years
The global natural gas market began to recover in 2016 after two years of weakness. Global natural gas consumption continues to rebound, production steadily increases, LNG liquefaction export projects are concentrated in production, market supply and demand continue to be loose, and the supply and demand gap begins to narrow. The rapid growth of LNG trade has driven the rapid development of global natural gas trade. Affected by factors such as the economy, international oil prices, and supply and demand, major market prices have rebounded to varying degrees.
Global consumption accelerating rebound
In 2017, global natural gas consumption was 3.62 trillion cubic meters, with a growth rate of 2.2%, returning to the average level of the past 10 years. The main factors driving the rebound in consumption:
Firstly, the traditional natural gas consuming countries and regions in Asia are promoting coal reduction and nuclear suppression, upgrading safety standards for nuclear power plants, and promoting natural gas utilization and related policies in consuming countries;
The second is to lower gas prices to reduce import costs and stimulate consumption, with major importing countries and emerging economies represented by China showing signs of economic growth, promoting natural gas consumption;
Thirdly, the rising coal prices in Europe, the decrease in wind power generation, and the impact of temperature fluctuations have led to sustained growth in demand for gas power generation, promoting a steady increase in natural gas demand in Europe.
Due to competition in alternative energy sources, natural gas demand in Europe has not been as expected. However, due to sudden factors such as cold currents and snowstorms, unexpected power outages and production stoppages in gas fields, supply interruptions have occurred frequently, resulting in significant price fluctuations. In recent years, natural gas prices in Italy have been continuously rising, and Italy is discussing measures with various natural gas companies to use strategic natural gas reserves to help curb prices. David Tabarelli, President of Nomisma Energia, an independent energy research institution in Italy, told the media that if the government does not intervene, it is expected that Italy's gas and electricity bills will rise by at least 50% and 17% respectively in 2022.
Tabarelli stated that natural gas prices have remained stable for nearly 10 years, but have skyrocketed since the second half of this year. If the Italian government does not intervene, natural gas prices in Italy will increase from the current 0.95 euros per cubic meter to 1.4 euros per cubic meter starting from 2022. With a relatively large proportion of natural gas power generation, electricity bills will also increase by 17% to 25% next year. According to an analysis by the Italian Consumer Association, an average household's electricity and gas bills may increase by 1227 euros in 2022, reaching a record high of 3368 euros.
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