Rising demand in energy across SEA leads to an energy crunch

Published onJanuary 7, 2021

With rapidly growing populations and GDP, Southeast Asia has been in an “energy crunch” for 20 years, according to Clifford Chance partner in Singapore Melissa Ng. However, the countries in the region are taking steps in addressing the shortages, such as Indonesia coming up with programmes to resolve its insufficient electricity generation capacity and a lack of refining capacity which both lead to shortages of petrol and other liquid fuel shortages. The Philippines, on the other hand, has several liquefied natural gas (LNG) import projects rushed to the market to prevent the looming gas supply shortage caused by the considerable decline of the Malampaya gas field’s production. “Without sufficient energy, be it electricity, petrol or gas, the economy of the affected country suffers,” noted Ng. “But in Asia, whilst many of the people are accustomed to shortages—brownouts and long queues for petrol being common symptoms—the shortages tend to lead to protests and in turn further government action.” Whilst different countries have distinct strategies, all are investing into the energy sector to catch up with rising demand, Ng said.

Source: https://asian-power.com/environment/news/rising-demand-in-energy-across-sea-leads-energy-crunch