Energy Situation in Asia and the Pacific: Emerging and Persistent issues

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1 Energy Situation in Asia and the Pacific: Emerging and Persistent issues Antonio Della Pelle UNESCAP, Bangkok 26 November 2014

2 Outline Contents 1. Introduction 2. Historical Trends in Asia-Pacific 3. Future Trends and Emerging Issues 4. Conclusion

3 Enerdata is a global energy intelligence company Private independent company incorporated in 1991 Workforce of experienced engineers, economists, statisticians, analysts and IT specialists Significant R&D activity and wide network of international research and industry and consulting partners In-house databases and models covering all key energy commodities and carbon markets for up to 185 countries 150 clients in over 100 countries: Oil & Gas Multinationals, Power and Gas Utilities, Energy Intensive Users, OEMs, Car Manufacturers, Governments, International Organisations, Banks, Consultancies

4 More than 250 clients worldwide In Asia

5 Antonio Della Pelle Enerdata Managing Director Antonio is a chartered chemical engineer working in the oil, gas, coal, electricity, renewables and emissions sectors. A recognised energy professional with worldwide experience particularly in Refinery, Petrochemical, Power, Gas and LNG, most recently in South East Asia, North Asia and Oceania. Antonio has advised major Oil & Gas companies about Energy Security, Energy Management, Energy Planning and Emission Reductions. Left Europe in 2003 to live in Japan first and China after before relocating to Singapore where he has been living since November 2005 Additional qualifications, Antonio has a certificate in Coaching and got the INSEAD Supply Chain Manamagent certificate.

6 Outline Contents 1. Introduction 2. Historical Trends in Asia-Pacific 3. Future Trends and Emerging Issues 4. Conclusion

7 Energy Consumption Growth Trends Economic growth in Asia led the growth of energy consumption Energy Consumption Growth Growth in % Europe United States Asia Source : Enerdata Global Energy and CO2 database

8 Energy Mix of Asia % 31% 8% 38% 24% 16% 10% 50% Coal Gas Oil Others Coal Gas Oil Others Others include nuclear and renewables Source : Enerdata Global Energy and CO2 database

9 Renewables in Asia Electricity and Renewable Trends Renewable energies support schemes in Asia in Electricity Growth % Share of Renewables in Electricity Feed-in tariffs (FiTs) Renewable Obligations (ROs) FiTs + ROs Electricity Consumption Growth Share of Renewables in Electricty Capacity Source : Enerdata Global Energy and CO2 database Source : Enerdata Power Plant Tracker

10 Trends in 2013 for Selected Asian Countries 9 8 Trends for Key Asian Countries China: Coal (+3.7%) remains by far the top fuel (75% of Power mix), Renewables and Gas investments Growth in % GDP Energy Consumption CO2 emissions China India Japan Source : Enerdata Global Energy and CO2 database India: Coal (+6.7%) major contribution; Gas decrease Japan: Coal and Gas have replaced Nuclear (0 since 2012), zero growth in emissions Investment in Renewables + Nuclear return planned in 2015

11 Outline Contents 1. Introduction 2. Historical Trends in Asia-Pacific 3. Future Trends and Emerging Issues 4. Conclusion

12 Some Definitions Description of the EnerFuture scenarios BALANCE EMERGENCE RENAISSANCE Balance provides an outlook of the energy system up to 2035 based on current policies and trends. Sustained growth of China and other emerging countries is a powerful driver of global energy demand, but confirmed energy policy commitments in several regions play a key role in controlling the pace of growth. However, non-coordinated policies result in soaring CO 2 emissions across the world and energy prices rise. This scenario explores the implications of more stringent climate policies, with more ambitious efforts on energy efficiency, initiatives to phase out fossil fuel subsidies and a real emergence of renewable technologies. Europe goes beyond its -20% targets by 2020, and the OECD and emerging countries meet their Copenhagen objectives. Following this, a new green deal is launched to reduce world emissions by a factor of 2 by With strong efforts in the exploitation and production of unconventional oil and gas resources, the world encounters a fossil fuels renaissance with the appearance of new key actors and ultimately new geopolitical configurations changing the energy independence of several countries. For climate efforts, this new paradigm leads to progressively weaker policies.

13 Total Energy Consumption in Asia-Pacific Region Mtoe Total Energy Consumption Forecast for Asia Balance Scenario Other(nuclear and renewables) Coal Gas Oil % of World Source : Enerdata POLES model; EnerFuture 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Coal will continue to play a major role in Asia-Pacific. In 2035, it will account for 38% of total energy consumption in Asia. This is in contrast to global figures : oil market share was more than coal in 2013 at world level. Gas will be the fastest growing fuel: 200% growth by 2035 as compared to 2013 Nuclear and renewable surpass oil in energy consumption share by The share of Asia in world total consumption will increase to 48% in 2035 as compared to 40% in 2013

14 Effect of Low Oil Price In the long term, Oil Demand from Asian Countries will rise if surplus production and lower oil prices continue $05/bbl Oil Price Forecast Balance Renaissance Source : Enerdata POLES model; EnerFuture Mtoe Increase in Oil Demand (Renaissance Balance) India Indonesia South Asia China Japan South East Asia South Korea Source : Enerdata POLES model; EnerFuture For a 25% decrease in long term oil price, total oil demand in Asia will increase by around 450 mtoe from 2013 levels. China will contribute to 50% of the increase in oil demand, followed by India (14%) and Japan (9%)

15 Natural Gas in Power Mix Capacity additions for gas will surpass coal by 2030 GW Capacity Additions (5 year period) Balance Scenario Coal Gas Oil Fossil Fuel as % of total capacity Source : Enerdata POLES model; EnerFuture 80% 70% 60% 50% 40% 30% 20% 10% 0% As of November 2014, 694 GW of power plant capacity is under- construction/approved in Asia with fossil fuels accounting for a 53% share Coal power plants installations will exceed those of gas till 2025 after which gas will surpass coal Net capacity of oil based power plants will decrease for all the time intervals The share of fossil fuel based capacity will decrease to 54% by 2035 as compared to 73% in 2013 for Asia

16 Nuclear is set for a fast growth Nuclear Capacity Addition - Balance Scenario MW India Japan South Korea South Asia Indonesia South-East Asia China Source : Enerdata POLES model; EnerFuture Enerdata expects the total increase in electricity capacity of Asia to be 3.2 TW by Out of this Nuclear will account for 10% increase, which is same as that of increase in hydro or solar power China will play a key role in growth of Nuclear in Asia. Out of a total increase of 370 GW of nuclear capacity in Asia by 2035, China will account for 210 GW of nuclear.

17 By 2040 China will be by far the leading country in nuclear power generation GW Source: Enerdata POLES Model

18 Renewable will be 1/3 of the total electricity capacity by 2035 MW Renewable Capacity Balance Scenario Wind will become the largest source of renewable energy by Share of wind power in the total renewable capacity will increase to 37% by 2035 as compared to 17 in Around 70 GW of renewable capacity was installed in 2013 with the biggest contribution from Hydro (38GW) Solar will see the largest growth: from 5% of the total renewable capacity in 2013 to 18% by 2035 Hydro Wind Solar fsct Hydro fsct Wind fsct Solar Source : Enerdata POLES model; EnerFuture

19 Energy Efficiency Energy Intensity Balance Scenario China USA EU-27 Non-OECD OECD Source : Enerdata POLES model; EnerFuture toe/ms$ Increase in Energy Intensity of Asia Relative to Balance Scenario Emergence Renaissance Source : Enerdata POLES model; EnerFuture In China, energy intensity is more than halved over , reflecting substantial adoption of energy efficiency practices and technologies. Higher supply of fossil fuel with relatively lower prices (Renaissance Scenario) will increase the energy intensity of Asia by 10% in However, if countries agree to cooperate on policies to reach the UN goals of emission reductions (Emergence Scenario), energy intensity will decrease by 35% in 2035.

20 CO 2 reduction potential for Asia 5 Decrease in CO2 emissions (Emergence-Balance Scenario) Rest of Asia -17% India -16% 0 Gt CO2 eq China -67% India China Rest of Asia Source : Enerdata POLES model; EnerFuture Asia Europe North America Rest of the World If Climate Change policies are implemented (Enerdata Emergence Scenario), Asia holds the highest potential for CO2 reduction. China and India together can contribute around 80% of the total possible reduction from Asia

21 Energy Prices and Fossil Fuel Subsidies Indonesia Malaysia 57% 14% 86% 29% 58% 42% Others Fuel Others (Incl Food, Fertilizer) Fuel Subsidies Electricity Source : Ministry of Energy and Mineral Resources, Indonesia Source : Ministry of Finance, Malaysia The electricity and fuel subsidies in Indonesia reached 300,000 Trillian Rupiah which is 11% of GDP in 2013 Total fuel Subsidies is Malaysia were around MYR 28 bn which is around 2.8% of the GDP in 2013

22 Electricity prices in Selected Asian Countries Electricity Prices for Households USc05/kWh Axis Title Malaysia Indonesia India Philippines Singapore Thailand 2013 Data not available for Thailand Source : Enerdata Global Energy and CO2 database Electricity prices differ by a wide range between different countries in the region due to subsidy policies and price controls Singapore and Philippines have higher electricity prices and reflect the supply and demand fundamentals Price controls also affect the adoption of energy efficiency policies

23 Rationalization of Energy Prices is top priority of Asian Countries Country Indonesia Malaysia China India Examples of Recent Measures On 19 November, 2014, Indonesian government announced hike in gasoline and diesel prices by more than 30% which is expected to save US$8bn in 2015 In October 2014, price for petrol and diesel were increased by 0.2 MYR to reduce subsidy burden In China, government increased the price of gas in September 2014 to bring the price levels to the international market. India removed control from diesel price and gas prices in October Diesel prices are now deregulated and gas prices will be reviewed every six months Source : Enerdata Key Energy News

24 Conclusions The dynamics and structure of the energy market in Asia is different as compared to other regions like U.S. and Europe In the light of the emerging trends, Enerdata has identified a number of issues including low oil prices, growth of gas and nuclear, energy efficiency, climate change policies and energy prices that will play a key role on the final energy consumption Energy policy of various countries will need to have fundamentals right to ensure balance between developing their economy in a sustainable manner and with security of supply

25 Thank you for your attention! Contact: Antonio Della Pelle Managing Director Phone: Mobile: Cecil Street, #03-01 GB Building, Singapore

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