LNGgc Asia Interview Series: Daniel Mallo, Managing Director – Head of Energy, Infrastructure and Metals & Mining, Asia Pacific, Societe Generale
Interview Session with Daniel Mallo, Managing Director – Head of Energy, Infrastructure and Metals & Mining, Asia Pacific, Societe Generale
Tell us about how Covid-19 has impacted on the LNG industry. In your opinion, how will the industry evolve from this pandemic?
Covid-19 has caused some disruption in the short term on the liquefaction side (PNG LNG expansion and Papua LNG have been delayed) but relatively supportive outlook longer term (as natural gas is now likely to become a fuel of choice in Asia given (a) available supply, (b) sharp reduction in prices, and (c) part of the energy transition for countries that are currently heavy on coal-fired power). Demand from China continues to be strong, and new demand markets are likely to emerge in the region.
Has the outlook for LNG demand and supply changed within these few years? What are the changes? There has been a slowdown in investment decisions on the liquefaction side (we were anticipating capacity additions in PNG), focus instead on refinancings (APLNG, Ichthys) and LNG-to-power (Jawa 1). The pandemic has introduced additional uncertainty on the demand side. Having said that, the fundamentals remain conducive in the Asia Pacific, and the expectation is that the LNG supply/demand picture will tighten again before the middle of this decade, so this should also lead to an investment cycle.
Where do you see growth opportunities in the industry?
I foresee that growth opportunities will mostly be on the demand creation side, with LNG-to-power solutions that could be deployed across the region (Southeast Asia and South Asia) – the acceleration of the energy transition in the region is likely to favor gas as a substitute for coal.
What do you hope to takeaway from LNGgc Asia 2020?
I look forward to meeting prospects on the demand side in the Asia Pacific region and outlook for new liquefaction investment decisions in the 2022-2025 timeframe.
Managing Director – Head of Energy, Infrastructure and Metals & Mining, Asia Pacific
Societe Generale, Singapore
Daniel Mallo will be presenting “LNG-to-Power – Equity and Debt Capital Availability” at LNGgc Asia virtual conference happening from 24 – 26 November 2020.
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