Gastech gets under way in Ilsan

Gastech, the world’s biggest natural gas and liquefied natural gas conference and exhibition, opens today at KINTEX Conference and Exhibition Center in Ilsan, Gyeonggi, with a record 2,000 delegates expected to attend.

Celebrating its 42nd anniversary this year, Gastech, which is held every 18 months, has been a forum for government officials, industry leaders, technology pioneers and energy experts to gather and discuss topics in the industry.

Minister of Trade, Industry, and Energy Yoon Sang-jick, International Gas Union President Jerome Ferrier and 180 VIP guests will attend the opening ceremony.

In addition, from today to Thursday, 15,000 visitors are expected to view the exhibition booths of 383 gas-related companies, 100 Korean, from 44 countries.

This is the first time Gastech has been held in Korea and Northeast Asia, which accounts for two-thirds of global liquefied natural gas consumption. Korea Gas Corporation (Kogas), the world’s single largest LNG buyer, serves as host for the event.

“It’s very meaningful that Gastech 2014 is held in Korea at a time when the gas industry is developing fast and Asia’s LNG demand is surging,” said Jang Seok-hyo, CEO of Kogas. “Global LNG demand is expected to increase 50 percent by 2020, and through Gastech 2014, we want to find solutions so Northeast Asia countries can secure resources and reduce costs of LNG.”

The conference will feature exhibit seminars and feature 200 expert speakers, according to organizers.

Conference sessions will feature senior and influential gas industry representatives who will share insights on Asia’s gas supply strategies. Other sessions of particular interest to Korea will focus on LNG and gas carrier shipping and shipbuilding, financing gas and LNG projects, LNG terminal and plant engineering and LNG as a transport fuel, it said.

Kogas said the economic impact of Gastech is expected to reach 62.5 billion won ($57 million) for the local economy. The state-run company said it gave financial support to 22 companies to set up booths at the event.

BY JOO KYUNG-DON [kjoo@joongang.co.kr]