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Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
 Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, reflecting the region’s economic rise but also increasing the challenges for its policy makers, according to a new report by the International Energy Agency.
Southeast Asia Energy Outlook 2019 finds encouraging indications in many areas, but also some warning signs in terms of the security and sustainability of energy systems. The report, part of the IEA’s flagship World Energy Outlook series, was released alongside two other studies focused on the region: The Future of Cooling in Southeast Asia and ASEAN Renewable Energy Integration Analysis.
The content of the reports reflects the priorities of senior energy leaders in Southeast Asia. In 2018, energy ministers from the Association of Southeast Asian Nations (ASEAN) called for “stronger institutional ties” between ASEAN and the IEA, and requested the Agency’s assistance in several specific areas, including regional power trade, renewables integration, cooling efficiency and investment. These topics are all examined in detailed deep dives in the new reports. Keisuke Sadamori, the IEA’s Director of Energy Markets and Security, is presenting the report today at the 3rd Singapore-IEA Forum, part of Singapore International Energy Week.
Southeast Asia Energy Outlook 2019 and the two accompanying reports are a demonstration of the IEA’s ever deepening ties with Southeast Asia and ASEAN member states. The IEA has expansive work programmes with nations across the region, notably Indonesia, Thailand and Singapore, which are IEA Association countries. ASEAN identified the IEA as “a key strategic partner” this year, putting it in a unique position to work with and assist the region. The agency’s collaboration with national governments and ASEAN takes place across a wide range of energy issues such as energy efficiency, investment, power systems, energy security and data.
“Southeast Asia is set to have a major impact over the next two decades, adding the equivalent of Japan’s entire energy system to global demand. This rapid growth underscores the importance of Southeast Asian countries’ energy policies for their citizens but also for the world,” said Dr Fatih Birol, the IEA’s Executive Director.
“As a key strategic partner of ASEAN, the IEA aims to help the region tackle its energy challenges across all fuels and all technologies, including through the insights provided in these latest reports,” Dr Birol said.
According to Southeast Asia Energy Outlook 2019, the region is well on the way to achieving universal access to electricity by 2030. Millions of people in Southeast Asia have gained access to electricity since 2000, yet some 45 million there are still without it today. Meanwhile, rising fuel demand has outpaced production from within the region, meaning Southeast Asia is now on a path to becoming a large net importer of fossil fuels – mostly oil – with an annual energy trade deficit that balloons to more than USD 300 billion by 2040 under today’s policy settings. As well as being extremely costly, this raises energy security concerns as the region becomes ever more dependent on fluctuations in global energy markets and more vulnerable to unpredictable geopolitical events.
Since 2000, Southeast Asia’s 80% increase in overall energy demand has largely been met by a doubling in fossil fuel use. Oil is the largest element in the regional energy mix, and coal – largely for power generation – has been the fastest growing. This has underpinned the region’s development and industrial growth, but has also made air pollution a major risk to public health and driven up energy-related CO2 emissions.
Investment in renewables is starting to pick up: renewable capacity is expected to expand by more than one-third over the next five years, led by solar PV and hydropower. However, without additional changes in policy intentions, renewable sources of power generation would account for only around one-third of the increase in electricity demand to 2040, according to the new Outlook.
Based on today’s policy settings, Southeast Asia’s overall energy demand is set to grow by 60% between now and 2040. All fuels and technologies play a part in meeting the projected increase: oil demand surpasses 9 million barrels per day (mb/d) by 2040, up from just above 6.5 mb/d today. Coal demand rises steadily.
If the region continues on this track, the consequences would be troubling. The number of annual premature deaths associated with outdoor and household air pollution is projected to rise to more than 650 000 by 2040, up from an estimated 450 000 in 2018. The projected growth in fossil fuel consumption would drive a two-thirds rise in CO2 emissions, reaching almost 2.4 billion tonnes in 2040.
Steering the region on to a healthier and more sustainable path would require concerted action across all parts of the energy sector, driven by a major increase in investment that includes significantly higher private sector financing.
The four essential pillars of this shift would be:
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Massively scaling up the deployment of renewables, which can be helped by greater integration of regional power systems and by leveraging the region’s modern bioenergy potential in a sustainable manner;
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Putting a major focus on improving energy efficiency, especially in fast-growing sector such as cooling and road transport;
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Phasing out fossil fuel consumption subsidies in order to spur more sustainable energy consumption and investment decisions;
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Tackling legacy issues, most notably by addressing emissions from the least-efficient coal plant. Carbon capture, utilisation and storage is a vital technology option to reduce emissions from the power sector and from industry.
The IEA will continue to offer the data, analysis and real-world solutions to help countries in the region achieve their energy policy objectives.
Source: IEA
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Sojitz Corporation - Japan
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
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