Eddy Tan, DBS Bank (left), Derrick Tan, SMBC (centre) and Benjamin Chang, Marsh (right) at LNG to Power Forum Apac
ESG and risk pose Apac LNG-to-power funding challenges
Lenders and insurance brokers see huge regional variation across the Asia-Pacific region in terms of funding for LNG-to-power projects, panellists said at Petroleum Economist’s LNG to Power Forum Apac
Some banks are still supporting LNG-to-power projects as a transition step towards net zero—particularly for the carbon savings relative to coal—Derrick Tan, director at Japanese financial services institution SMBC, said at Petroleum Economist’s LNG to Power Forum Apac event in mid-May. However, he cautions that “most banks are focusing more on renewables”, as mid-century net-zero goals loom. On the increasing importance of ESG for banks, there has been a growing focus in recent years not just on the question of cutting emissions, but also on “how [projects] help the drive towards net zero”, Eddy Tan, executive director for project finance at DBS Bank, told the forum. Nevertheless, gas is st
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