IEA: Energy demand in Southeast Asia is expected to grow by nearly 60% by 2040

On October 25, the International Energy Agency (IEA) said energy consumption in Southeast Asia is expected to grow by nearly 60% from now to 2040 as coal and oil leads the region's electricity and transport sectors.
 IEA said in a report, Southeast Asia will become the main driver of global energy demand, because its economic growth of 3 times the total population growth of 1/5. However, due to the decline in oil production, concerns about energy security increased, the region's net energy import costs are also increasing.
According to the IEA statistics, in 2040, Southeast Asia will have to pay net energy imports of more than $ 300 billion, equivalent to about 4% of the region's gross domestic product.
IEA said that 2040 net oil imports of 690 million barrels / day, which will need an annual expenditure of 280 billion US dollars, so that oil is expected to import the largest composition.
"In addition to the gradual increase in import costs, the region's increasing reliance on imported energy has also raised major energy security issues," the IEA said.
The increased reliance is largely due to electricity generation, as increasing revenues lead to more people buying electrical appliances such as air conditioners.
2040 years in Southeast Asia's power generation capacity from the current 240 GW to 565 GW, of which coal and renewable energy accounted for nearly 70% of new capacity. Coal will account for nearly 40% of new capacity, more than the proportion of natural gas in the electricity composition.