Southeast Asia's energy demand will rise by 80% through 2040
According to the International Energy Agency (IEA), energy consumption in Southeast Asia is expected to grow by 80% from 2014 to 2040, reaching 1.1 Gtoe.
Oil demand should increase by 45% from 4.7 mb/d in 2014 to 6.8 mb/d in 2040, while gas demand should rise by nearly 2/3 to 265 bcm and coal demand should soar to 440 Mtce in 2040. The share of renewable energies in energy consumption should dip from 26% to 21% due to the decreasing traditional use of biomass, despite a higher contribution from hydropower, geothermal, wind and solar.
In the power sector, 400 GW of power capacity should be installed from 2014 to 2040, 40% of which from coal, raising the share of this energy in power generation from 32% to 50%, while the share of gas should decline from 44% to 26%.
Southeast Asia should remain an important fossil-fuel producer and a net coal-exporting region; coal production is expected to rise by 51%, from 450 Mt to 680 Mtce by 2040, with nearly 90% of coal production from Indonesia.