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South-east Asia has a crucial role in the world's energy future

The Straits Times

|

October 21, 2024

That is why the IEA is taking the major step of opening a centre in Singapore, the first of its kind outside the agency's Paris headquarters.

- Fatih Birol

It is impossible to consider the world's energy future without looking to South-east Asia, a dynamic region and increasingly influential force in global energy trends.

Following two decades of remarkable growth, the countries of Asean are collectively poised to become the world's fourth-largest economy by 2030. At that point, the region - with a population of over 720 million - is set to be home to nearly one in every 12 people globally.

Given this trajectory, South-east Asia will cement its position as an energy heavyweight. According to the new South-east Asia Energy Outlook from the International Energy Agency (IEA), the region is projected to account for 25 per cent of the global increase in energy demand by 2035, and is on track to surpass overall consumption in the European Union by 2050.

The upshot is clear: for conversations on the biggest energy issues of the day, from ensuring energy security to accelerating clean energy transitions, South-east Asian countries must have a seat at the table.

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