Emergence of Southeast Asia as energy giant carries risks, opportunities
The energy landscape in Southeast Asia continues to shift as rising demand, constrained domestic production and energy security concerns lead to a greater role for coal, a sharp rise in the region’s dependence on oil imports and the reversal of its role as a major gas supplier to international markets.
“As Southeast Asia flourishes, it is moving to the centre of the global energy stage,” IEA Executive Director Fatih Birol said. “Countries in the region now have much in common with IEA members. We must all work together to build more secure and sustainable energy supplies and markets, as platforms for promoting economic development.”
The World Energy Outlook Special Report on Southeast Asia (WEO Special Report) presents a central scenario in which Southeast Asia’s energy demand increases by 80% in the period to 2040, though the region’s per-capita energy use remains well below the global average. Despite policies aimed at scaling up the deployment of renewable resources, the share of fossil fuels in the region’s energy mix increases to around 80% by 2040, in stark contrast to the declining trend seen in many parts of the world. ….