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Korea hosts 28th World Gas Conference 2022-05-27

Trade, Industry and Energy Minister Lee Chang-yang attended the 28th World Gas Conference (WGC) held in Daegu, Korea, on May 24. The four-day conference is the global gas industry’s largest international event and is convened every three years by the International Gas Union (IGU). IGU member states’ gas trade takes up 95% of the world’s total gas volume.

Over 20,000 people from approximately 80 countries are estimated to attend. A total of 370 companies will be gathering, including Exxon Mobil, British Petroleum (BP), Shell, as well as various international organizations and institutions like the World Bank, Environmental Defense Fund (EDF), and S&P Global to share the current gas industry status.

Korea is the third Asian country to be hosting the conference after Japan (2003) and Malaysia (2012). Under the slogan, “A Sustainable Future - Powered by Gas,” a diverse group of public and private sector experts come together to discuss the feasible prospects of natural gas serving as a bridge fuel while weaning off fossil fuels. A total of 62 sessions of speeches and talks are scheduled in the program, while exhibition booths and industrial inspections are also accessible on the sidelines. Domestic and overseas combined, almost 150 companies are participating in the exhibition, a convenient venue for getting acquainted with major companies constituting the global gas value chain.

The 28th WGC saw new issues garnering attention, namely the escalating uncertainties in supply chain links from the Ukraine crisis and the world’s sharpened focus on hydrogen as a major energy source. A good part of the conversations dealt with means of attracting investment and laying out legal foundations for the feasibility aspect of utilizing hydrogen.

WGC President Kang Joo-myung opened with remarks urging the gas industry to “increase efforts to decarbonize the gas value chain and promote hydrogen and other renewable gases through technological developments and investment so as to resolve our common challenges, such as energy security and climate change.”