Gastech 2026 Closes with $40bn in Energy Commitments
Bangkok conference concludes with $40 billion in memoranda of understanding, driven by Asian LNG diversification and Pakistan's push for gas storage infrastructure.
Gastech 2026 concluded in Bangkok with an estimated $40 billion in memoranda of understanding, supply agreements, and investment commitments. Organiser dmg events clarified that this figure represents advanced discussions and MOUs rather than completed contracts. The event highlighted Asia’s expanding role in LNG supply, gas-fired power generation, and energy infrastructure, with 59,468 attendees from over 150 countries participating in the September 14-17 conference.
Key commercial activity centered on supply diversification and power capacity. China Gas Holdings signed a 20-year agreement with US producer Venture Global for 500,000 tonnes of annual LNG starting in 2030. Meanwhile, GE Vernova and B.Grimm Power secured contracts for gas-fired generation in Malaysia and a 14-year service deal for five gas-turbine packages in Thailand, citing rising electricity demand from data centres as a primary driver for new capacity.
Asian Buyers Diversify LNG Supply Sources
The surge in long-term contracts reflects a strategic shift by Asian buyers to mitigate risks associated with Middle Eastern export disruptions and intensifying global cargo competition. In Malaysia and Thailand, PETRONAS, PTTEP, and the Joint Authority formalized a 35-year production-sharing contract for Block A-18-01, extending gas development beyond current terms. Thailand also launched its 26th petroleum exploration round, offering 60,200 square kilometres of deepwater acreage to offset declining domestic gas production.
Thailand aims to increase annual LNG import capacity from 19 million to 27 million tonnes to secure energy stability. The country separately reported over $17 billion in energy business agreements during the event. These moves align with broader industry efforts to balance energy security with lower emissions, with significant conference focus on hydrogen, carbon capture, and electrification technologies.
UGDC Targets International Gas Storage Partners
Pakistan’s Universal Gas Distribution Company (UGDC) attracted substantial international interest for gas storage and distribution projects. CEO Ghyias Abdullah Paracha stated that 61 international companies visited the UGDC stall, with nine expressing serious interest in business cooperation. Discussions focused on building gas storage facilities in Pakistan and securing long-term LNG contracts to support domestic distribution networks.
Interest also extended to overseas expansion, with firms from three countries in Africa and the Arab region expressing keen interest in UGDC’s gas distribution capabilities. Paracha noted that while no binding agreements or final investment decisions have been announced, the engagement serves to present Pakistan’s gas-sector reforms and market opening to private investors. UGDC was the first Pakistani firm to display these reforms at Gastech since the event began 54 years ago.
