Southeast Asia will drive 25% energy demand growth

Southeast Asia is becoming a significant player in the global energy landscape, according to Sue-Ern Tan from the International Energy Agency (IEA). The region is expected to make up 25 percent of the rise in energy demand in the next ten years due to its growing population and economy. Tan highlighted the importance of meeting this energy demand securely and affordably, while also making efforts to transition to cleaner energy sources. The region, which is the world's fourth-largest energy consumer, still relies heavily on fossil fuels, but eight out of ten ASEAN member countries have set net-zero targets. Tan expressed optimism about political support for reducing emissions. The IEA Regional Cooperation Centre, located in Singapore, aims to enhance energy security and promote clean energy transitions across Southeast Asia. This center is the IEA's first office outside of Paris. Tan noted that the agency is beginning discussions with regional governments on how to meet their net emission goals securely. During a conversation at Singapore Maritime Week, Tan discussed the maritime industry and its contribution to global emissions, which is about 3 percent. The industry faces challenges as it seeks to adopt greener fuels and reduce emissions. Alternative fuels like ammonia and hydrogen are becoming more popular. Tan emphasized the need for governmental support to create demand for low emission fuels. She called for emission reduction targets and financial incentives for shipping companies. Additionally, she stressed the importance of planning investments in new infrastructure at ports to support these cleaner technologies.