With the current population in Asia at 4.5 billion, the populous continent makes up 60% of the world’s total population. This is set to rise to 5.3 billion by 2050 according to the United Nations (UN). With this boom, Asia’s economy is expected to triple in size by 2040.
These significant growths will signal increasing energy consumption around the region and an estimated $2.5 trillion of energy investment is needed by 2040 to achieve ASEAN energy targets alone. According to Bloomberg New Energy Finance’s New Energy Outlook 2017, Asian leading superpowers - China and India – will also lead in energy investment, accounting for 28% and 11% of all investment in power generation to 2040.
Through to 2040, we expect most of the world’s oil and gas exports will likely be headed to the Asia Pacific region, with its net imports projected to rise by over 50% between 2014 and 2040. Furthermore, it’s likely almost half of Asia Pacific’s gas demand will be satisfied by LNG imports by 2040, and by that time will likely have overtaken Europe as the world’s largest natural gas importer. Alongside huge growth in renewables we will witness an unprecedented energy transformation in the region.
FUTURE ENERGY ASIA 2020 is a collaborative effort showcasing Thailand’s Integrated Energy Blueprint, positioning Thailand as the sustainable energy hub for Asia. The transition towards “Thailand 4.0” and a value based economy makes Bangkok the perfect location to advocate the future for the wider region’s harmonious fuel mix.
Bangkok is established as Asia’s premier business events destination, providing flexible, service oriented support to meetings, incentive and business travellers, convention attendees and exhibition participants.