BURNABY, Canada, July 3, 2015 /PRNewswire/ --
Rising demand supply gap in energy and power sector in Southeast Asian countries to propel cross border energy trade in the region
According to recently published TechSci Research report, "Southeast Asia Energy Sector Outlook, 2020" , the production consumption gap in oil & gas sector in Southeast Asia is anticipated to increase over the next five years. While crude oil production is projected to decline at around 1.14%, its consumption across the region is set to increase at about 3.2% during 2015-20. Exhibiting a similar trend, the gap between production and consumption of natural gas is also anticipated to increase during the forecast period. Natural gas production in the region is projected to grow at over 1.7%, while its consumption is expected to increase at a higher rate of over 3% through 2020.
Uneven geographic distribution of oil and gas reserves in various Southeast Asian countries is creating trade opportunities in the region, wherein energy surplus countries could supply to energy deficit countries, to ensure optimum utilization of available energy resources at both ends. Moreover, cross border energy trade among Southeast Asian countries will also emerge as a more desirable option in terms of economic viability of trade. Although, the process is in itself capital intensive, involving development of infrastructure to ensure proper implementation, it is expected to garner cost benefits in the long runon account of reduction in costs associated with transportation.
"Demand supply gap in energy and power sector in Southeast Asian nations coupled by constantly rising energy demand on account of growing population will drive trade between Southeast Asian countries. High demand for energy from the industrial sector and the power sector will further propel energy and power trade in the region", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Southeast Asia Energy Sector Outlook, 2020" has evaluated the future growth potential of energy sector across Southeast Asia, and provides statistics and information on production, consumption, imports and exports in the energy sector in Southeast Asian countries. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes drivers, challenges and opportunities available in energy market in Southeast Asia.
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