{"id":731,"date":"2026-06-04T21:45:11","date_gmt":"2026-06-04T21:45:11","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=731"},"modified":"2026-06-04T21:45:11","modified_gmt":"2026-06-04T21:45:11","slug":"asia-turns-to-u-s-oil-and-gas-amid-iran-war-we-get-too-much-into-that-tree-hugging-mode","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=731","title":{"rendered":"Asia turns to U.S. oil and gas amid Iran war: \u2018We get too much into that tree-hugging mode\u2019"},"content":{"rendered":"
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\u201cTo address our energy challenges, it is not possible to do it all on our own,\u201d Puah Kok Keong, CEO of Singapore\u2019s regulatory Energy Market Authority, told Fortune<\/em>. \u201cI think I can say that not just of Singapore, but for many other countries in Asia who are also facing the same kind of challenges.\u201d<\/p>\n

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A delegation visited Texas for a Singapore International Energy Week event in Houston, touring Cheniere Energy\u2019s pioneering Sabine Pass liquefied natural gas (LNG) export hub in Louisiana, and meeting with leaders from Exxon Mobil, Chevron, Shell, and more. More than 90% of Singapore\u2019s electricity comes from natural gas imports, including LNG, along with a burgeoning solar power industry. And about 10% of Singapore\u2019s total gas supplies come from Qatar, which remains offline since the beginning of March.<\/p>\n

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And much of Asia, Australia\u2014and even California\u2014depend on Singapore\u2019s large oil-refining complex for gasoline and jet fuel. \u201cThe government is very clear that we will continue to let the refineries and the oil traders continue to export products from Singapore,\u201d he said, so there\u2019s no need for panic on the U.S. West Coast just yet.<\/p>\n

And Singapore will rely more on the U.S., especially for LNG.<\/p>\n

\u201cThe United States has undergone a remarkable energy transformation,\u201d Keong said. \u201cThat is why the U.S. is right now in the driver\u2019s seat to support the energy needs of the global economy\u201d<\/p>\n

U.S. natural gas production is on track to essentially double from 2015 to 2032, And the country\u2019s LNG export capacity is quadrupling from 2020 to 2032, said Wolfgang Moehler, Americas gas director for S&P Global Energy. Including exports, almost half of all U.S. natural gas demand will be concentrated in just two states\u2014Texas and Louisiana\u2014where almost all the LNG export capacity is concentrated.<\/p>\n

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Singapore evolution<\/h2>\n

Just last year, Singapore founded the Singapore GasCo to centralize the procurement and supply of natural gas for the country\u2019s power sector, which now seems well timed.<\/p>\n

That helped Singapore buy enough LNG cargoes to set aside in storage to keep the country powered through the end of the year if the Strait of Hormuz remains effectively shuttered, Keong said.<\/p>\n

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Goh Tiak Boon, GasCo chief commercial officer, said most of the world didn\u2019t learn lessons from the still-ongoing Russia invasion of Ukraine and the resulting disruption of global energy supplies\u2014\u201cWe have very short memories.\u201d But now countries are finally beginning to emphasize more natural gas strategic reserves, he said.<\/p>\n

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\u201cWe get too much into that tree-hugging mode,\u201d Boon said. \u201cEnergy security is fuel agnostic. That doesn\u2019t mean we don\u2019t care about renewables.\u201d<\/p>\n

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Keong emphasized Singapore is still maintaining net-zero energy goals by 2050. But the top priorities are energy security and affordability. Longer-term, Singapore is developing cleaner geothermal and next-generation nuclear technologies\u2014in cooperation with American players too. <\/p>\n

In the meantime, Singapore is building another LNG import hub, called a regasification terminals, which would increase its LNG import capacity 50% by 2030. And, in the interim, Singapore is promoting more energy conservation domestically.<\/p>\n

\u201cIf we look at the next five to 10 years where the major increase in LNG exports, a big part of that will be the U.S. just because of the sheer availability of the shale gas and the huge investments that many U.S. companies are actually taking to [export] LNG,\u201d Keong said.<\/p>\n

Although Singapore will increase its reliance on U.S. supplies, he said, the country will remain diversified, including importing more from Qatar once it\u2019s back online.<\/p>\n

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\u201cWhat would the next supply disruption be? No one can foretell. It may not be in the Middle East; it may be somewhere elsewhere in the world,\u201d Keong said. \u201cIt may not be a military conflict; it may be a climate event. So, we always plan for the unknown.\u201d<\/p>\n

And, although he didn\u2019t specify it, a major hurricane or winter storm hitting Texas and Louisiana just right could dramatically disrupt U.S. oil and gas exports.<\/p>\n

Asian and U.S. views<\/h2>\n

This is far from just a Singapore trend. JERA is the top power producer, in Japan, which relies on LNG for about 30% of its power, including a heavy reliance on U.S. supplies.<\/p>\n

James Tinsley, chief commercial officer for JERA Americas, boasted that U.S. gas production volumes have bucked projections and are actually cheaper than they were 15 years ago.<\/p>\n

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\u201cThe efficiency that has been gained through the years has outpaced the demand, which is really remarkable,\u201d Tinsley said. \u201cThe question a lot of us have is, \u2018Is there a limit to that?\u2019\u201d<\/p>\n

The problem is that spot prices for global LNG cargoes have risen much higher since the Iran war began\u2014for volumes not under long-term contracts\u2014and there\u2019s risk of some countries turning more to dirtier coal instead. He mentioned Thailand building new coal plants as an example.<\/p>\n

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As for the Big Oil players, in a panel discussion, Rob Nunmaker, Chevron vice president of new energies, said that\u2014unlike some competitors\u2014Chevron focuses on what customers and countries need for energy security, and not a more utopian \u201cField of Dreams\u201d approach.<\/p>\n

\u201c\u2018If you build it, they will come,\u2019\u201d Nunmaker said, quoting the 1989 film. \u201cWe don\u2019t believe in that.\u201d<\/p>\n

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Cheniere director of global fundamentals, Najla Jamoussi, agreed that a more pragmatic \u201call of the above\u201d energy approach is winning out\u2014politically and commercially\u2014noting that BP and Shell have backed away from more aggressive climate and renewable energy ambitions.<\/p>\n

That left Shell LNG Americas vice president Ryan Lawrence to agree about a more balanced portfolio approach, making a roulette metaphor. \u201cTo put everything on black or red is a little too risky.\u201d<\/p>\n

And he emphasized the benefits of U.S. and diversified LNG strategies amid the biggest energy supply shock ever in the Middle East.<\/p>\n

\u201cWe were obviously kidding ourselves that there wasn\u2019t a different kind of geography risk,\u201d Lawrence said.<\/p>\n

Read more Albanian protesters are furious about a giant development on a virgin beach that Jared Kushner and Ivanka Trump discovered on vacation<\/a><\/p>\n

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Singapore looks to U.S. supplies as it builds out its natural gas importing infrastructure.<\/p>\n","protected":false},"author":1,"featured_media":730,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lng"],"yoast_head":"\nAsia turns to U.S. oil and gas amid Iran war: \u2018We get too much into that tree-hugging mode\u2019 - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=731\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia turns to U.S. oil and gas amid Iran war: \u2018We get too much into that tree-hugging mode\u2019 - 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