Centre of the Global Energy Stage
Centre of the Global Energy Stage
The energy landscape in Southeast Asia continues to shift and as the region flourishes “it is moving to the centre of the global energy stage,” according to IEA Executive Director Fatih Birol who is keynote speaker on the first day of the Singapore International Energy Week, which starts on 26 October and, in itself, is a notable platform for promoting economic development through energy. Read more
Singapore International Energy Week 26-30 October 2015
Marina Bay Sands, Singapore
The appetite for economic development and urban progress, coupled with climate change concerns and the development of more efficient energy technologies, is driving change among consumers and energy industries.
SIEW aims to facilitate the exchange of ideas and discussions on pertinent energy-related issues, while simultaneously meeting the strategic objectives of Singapore’s commitment to becoming a global leading energy hub and “living lab”. At the same time, opportunities are set up for networking and deal-making among energy companies converging on the event, as well as to provide a platform to showcase innovative products and solutions in the energy marketplace.
SIEW 2015: New Sessions on Oil & Gas at Singapore International Energy Week 2015
New Sessions on Oil & Gas at Singapore International Energy Week 2015
On 15 October 2015, the Energy Market Authority provided this update for the 8th annual Singapore International Energy Week (SIEW) dedicated to shaping the global discourse on key energy issues.
SIEW’s anchor event, the Singapore Energy Summit, will showcase several in-depth discussion panels featuring energy thought-leaders across governments, industry and international organisations. They will provide insights on Asia’s role in the energy landscape, as well as on energy security and energy resilience.
New for this year, the Summit will present two focus sessions on oil & gas. Charif Souki, Chairman and CEO of Cheniere Energy, and Peter Coleman, Managing Director and CEO of Woodside Energy, will share their perspectives on “Gas and Its Role in the Next Energy Transition”. “In Focus: A Turning Point for Oil?” will feature Amos J. Hochstein, Special Envoy at the Bureau of Energy Resources at the U.S. Department of State (DOE), Masakazu Toyoda, Chairman and CEO of The Institute of Energy Economics Japan (IEEJ), and Tor Martin Anfinnsen, Senior Vice President for Marketing and Trading at Statoil.
Other speakers at the Singapore Energy Summit include:
Rokas Masiulis, Minister of Energy, Lithuania
Hiroshi Ozaki, Chairman, Osaka Gas
Datuk Wan Zulkiflee bin Wan Ariffin, President and Group CEO, Petronas
Tang Kin Fei, Group President and CEO, Sembcorp Industries
Aaron A. Domingo, Executive Vice President and COO, MERALCO PowerGen Corporation (MGEN)
Wang Min, Executive Vice President, State Grid Corporation of China
Klaus Schäfer, Member of the Board of Management, E.ON SE
Kyle Peters, Senior Vice President, Operations, The World Bank
Adding to the line-up of energy luminaries, this year’s SIEW Opening Keynote Address will be delivered by Dr Fatih Birol, Executive Director of the International Energy Agency. Dr Birol will share his views on this year’s SIEW theme, “Global Energy Transitions” which aims to focus discussions on the recent impact of volatile energy prices on the industry and strategies moving forward.
Top energy conferences and exhibitions will also be part of SIEW, namely: the Asian Energy Financial and Investment Conference, Asian Downstream Week, Platts Top 250 Asia Awards Dinner, RE@SIEW Exhibition, and the Asia Clean Energy Summit. Gastech 2015 will also be held in association with SIEW. SIEW Thinktank Roundtables will feature internationally renowned thinktanks, which will deliberate on energy challenges.
In addition, to commemorate Singapore’s Golden Jubilee, SIEW 2015 will present two events – the SG50 Jubilee Reception and the Singapore Energy Story exhibition – to celebrate Singapore’s energy sector.
SIEW 2015 will be held at the Sands Expo and Convention Centre, Marina Bay Sands Singapore, from 26 to 30 October 2015.
Emergence of Southeast Asia as energy giant carries risks, opportunities
IEA sees continued shift to coal and increasing dependence on oil and gas imports
IEA reports (8 October 2015)
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.
Rising imports sharpen the focus on the economic and security aspects of energy use. By 2040 the region’s net oil imports more than double to 6.7 mb/d, a level equivalent to the current oil imports of China. Southeast Asia’s oil import bill surges to over $300 billion per year by 2040, compared with around $120 billion in 2014, with increases in spending in almost all countries in the region.
Indonesia supports a continued expansion of Southeast Asia’s gas and coal output, but production is increasingly consumed within the region. As domestic natural gas demand outpaces indigenous production, intra-regional and intra-country trade increases, and Southeast Asia turns into a net gas importer of around 10 bcm by 2040, compared with net exports of 54 bcm in 2013.
The power sector shapes the energy outlook for Southeast Asia, as electricity demand almost triples by 2040, an increase greater than the current power output of Japan. The sector continues its shift towards coal due to its abundance and relative affordability. Although the average efficiency of Southeast Asia’s coal-fired power plant fleet increases by 5 percentage points throughout the projection period, less-efficient subcritical technologies account for 50% of the region’s coal power fleet in 2040, highlighting the need to accelerate the deployment of more efficient technologies in the region to reduce local pollution and slow the rise in CO2 emissions.
The WEO Special Report, prepared in collaboration with the Economic Research Institute for ASEAN and East Asia (ERIA), analyses four key issues that will shape the future of Southeast Asia’s energy system: energy investment, power grid interconnection, energy access and fossil-fuel subsidies. “The reliability and sustainability of Southeast Asia’s energy system depends on investment,” IEA Director of Energy Markets and Security Keisuke Sadamori said at the release of the report in Kuala Lumpur during the ASEAN Ministers on Energy Meeting. “To secure its energy needs, the region requires $2.5 trillion of investment in energy-supply infrastructure in the period to 2040, but for this to materialise we need to see more progress with reforms to domestic energy markets and the establishment of improved policy frameworks.”
The report notes that greater integration of the region’s energy markets could help catalyse development of energy resources, facilitate more efficient use of the region’s resources and enhance energy security. It also highlights the significant progress achieved by the region in expanding energy access but urges increased action as 120 million people remain without access to electricity while almost 280 million lack clean cooking facilities. The report also calls for more efforts to reduce subsidies to fossil fuels, noting that the region spent $36 billion on fossil-fuel subsidies in 2014 despite reforms in Indonesia, Malaysia, Thailand and Myanmar.
The WEO Special Report also includes an in-depth focus on Malaysia that highlights the ongoing changes for country’s energy sector. Malaysia’s energy demand almost doubles by 2040 with fossil fuels continuing to meet over 90% of demand throughout the period, with coal overtaking oil and gas to become the primary fuel in Malaysia’s energy mix. Renewables, aided by government policies and incentives, grow, especially in the power sector where their share of generation reaches 16% by 2040. Malaysia’s role in international markets shifts, as it becomes increasingly dependent on imports.
A separate IEA report issued further emphasises the importance of the power sector in the region’s future. The report, Development Prospects of the ASEAN Power Sector, highlights the role that power sector governance can play in supporting the development needs of the region, and pays particular attention to the implications of renewable energy integration in power sectors that currently rely significantly on fossil fuels. The report also says regional integration must be supported by the development of regional institutions, in particular a pan-ASEAN regulatory body which can support domestic regulators in their efforts to harmonise reliability standards and build regional interconnectors.
Fatih Birol became the Executive Director of the IEA on 1 September 2015. Dr. Birol has been named by Forbes magazine among the most powerful people in terms of influence on the world’s energy scene. He is also the recipient of numerous awards from government, industry and academia. He previously was the IEA Chief Economist and Director of Global Energy Economics, with responsibilities that included directing the Agency’s flagship World Energy Outlook publication, which is recognised as the most authoritative source of strategic analysis of global energy markets. He is also the founder and chair of the IEA Energy Business Council, which provides a forum to enhance co-operation between the energy industry and energy policy makers.
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