HOUSTON, September 6, 2022 – In partnership with the Australian American Chamber of Commerce, Asia Society Texas hosted a panel discussion on the future of energy in Asia amid the transition from traditional energy to hydrogen, carbon capture, and renewables. Uday Turaga, founder and CEO of ADI Analytics, moderated a conversation with Austin Knight, Vice President of Hydrogen at Chevron New Energies, and Andrew Elliott, President of LNG Market Development at ExxonMobil, about the opportunities and challenges for the energy markets to meet future energy needs as well as carbon reduction goals.

The panelists spoke about the rising value of gas and LNG in recent months given geopolitical events in Ukraine and Europe. Elliott noted that such events have provided ExxonMobil confidence in recent projects, as it is clear that demand has grown; however, he acknowledged that more supply is needed. Though historically there has been a 70-30 split in favor of traditional energy for long-term contracts, Elliot shared his belief that, looking to the future, natural gas will be viable for a long time coming, particularly in Asia.

The speakers shared some avenues to decarbonization — such as carbon capture and sequestration (CCS) — are not available to certain industries that are not easily electrified, particularly heavy duty transport industries. That leaves an opportunity for hydrogen as a liquid gas, which in some applications can be converted to ammonia, to help offset coal. Knight predicted that by 2050, anywhere from 5 to 15 percent of total energy in the world will be hydrogen. He said that during this decade, companies like Chevron will need to focus on strategy around investment, infrastructure, and proof points — so that when the hydrogen markets materialize, they are ready to grow.

The speakers noted that the path forward to a lower-carbon future will be an “all of the above” approach, rather than a “one size fits all” — relying on CCS, hydrogen, LNG, and more. They added that the impact of policy will have a significant impact on the competitiveness of all of these strategies in the U.S.

About Asia Society Texas

Asia Society Texas believes in the strength and beauty of diverse perspectives and people. As an educational institution, we advance cultural exchange by celebrating the vibrant diversity of Asia, inspiring empathy, and fostering a better understanding of our interconnected world. Spanning the fields of arts, business, culture, education, and policy, our programming is rooted in the educational and cultural development of our community — trusting in the power of art, dialogue, and ideas to combat bias and build a more inclusive society.