South East Asia’s energy crisis
Businesses across South East Asia (SEA) are facing ever-evolving challenges – from growing demand, diminishing supplies and a mounting interest in sustainability, business are finding it increasingly difficult to remain efficient while achieving their sustainability goals. It’s for this reason businesses need to gain a better understanding of the region’s energy landscape, in order to maximise operations.
SEA’s primary energy mix is dominated by fossil fuels, with oil, natural gas and coal making up more than three-quarters of today’s energy demand. Oil remains the dominant fuel, with regional demand currently at 4.4 million barrels per day. With SEA’s oil reserves at 13 billion, current levels of production would only be able to sustain output for 14 more years. It’s a similar situation for gas too, with current reserves (7.5 billion Mtoe) sustaining output for another 37 years.
Energy demand in the region has expanded by two-and-a half times since 1990 – a growth that ranks among the fastest in the world. This growth, further bolstered by urbanisation, economic development and changing infrastructure, is only set to continue as energy demand will increase by 80 percent from today to 2035.
Power management company Eaton suggests that the solution to rising energy demand lies in technology optimisation and innovation. The company is introducing alternative energy supplies to power growth. Engaged in a major strategic initiative to grow its oil and gas business, Eaton’s 10,800 patents in innovation technology also aim to solve power management challenges.
For more information go to www.eaton.com