IEA: Coal, oil to lead energy demand-growth in Southeast Asia to 2040

In its latest report published on Tuesday, the International Energy Agency (IEA) revealed that Southeast Asia will become a key driver for energy demand globally as its economy triples in size and its total population grows by a fifth.

Key Points via Reuters:

“Energy demand in Southeast Asia is expected to climb nearly 60 percent by 2040 from now

Coal and oil to lead growth in the region’s power and transport sectors

Southeast Asia will have to fork out more than $300 billion in 2040 for net energy imports, equivalent to about 4 percent of the region’s total gross domestic product

Coal alone will account for almost 40 percent of the growth, overtaking gas in the electricity mix

Oil demand will expand to around 6.6 million bpd by 2040 from 4.7 million bpd now”