Thursday 30 May 2024

Asia oil demand leaps 41.5pc, greatest regional increase in the world

Experts to discuss future of energy for Asia at NBAD event

ABU DHABI, December 12, 2014

The National Bank of Abu Dhabi (NBAD) and CNBC, a leading business and financial news network, is set to convene a panel of leading energy experts to discuss the future of energy for Asia, in Kuala Lumpur, Malaysia, on December 15.

The panellists will consider future energy supply, and the ways in which governments, businesses and financial institutions can work together to meet increasing demand, said a statement.

Asian oil demand has leapt 41.5 per cent since 2000, the greatest regional increase in the world, according to an Opec report.

Currently producing around eight million barrels of oil a day and consuming over 29 million barrels a day, Asia is at the centre of the changing global energy landscape, it said.

The supply-demand gap is only going to widen further, with Asia expected to account for 88 per cent of the growth in global oil demand to 2035. While the world debates the 40 per cent oil price plunge since June, in Asia the story is about how to meet the energy demand growth and supply shortfall over the next 20 years.

Alex Thursby, group chief executive officer of NBAD, said: “Over the next 10 to 15 years, the West-East corridor, which stretches from West Africa to East Asia, will be the fastest growing super-region in the world, with the highest concentration of megacities on the planet.  

“This growth has to be sustainable if we are to preserve our world for future generations. This event is a key to unlocking sustainable energy investment opportunities and it will lay the foundations for the Global Financial Markets Forum (GFMF), taking place in Abu Dhabi in March next year.”

‘The Future of Energy; West East Corridor’ is the first in a series of events taking place around the world as part of NBAD’s Global Financial Markets Forum (GFMF); other Global Financial Markets Series will be held in London in February next year and Mumbai in June.  

The 2015 GFMF, to be held in Abu Dhabi on March 1 and 2, will continue to showcase a high-calibre mix of regional and international speakers, facilitating thought-provoking discussions both on and off stage, said the statement.

The forum will be covered extensively by CNBC, who will be broadcasting live from their on-site studio at the Emirates Palace, it added. - TradeArabia News Service

Tags: Energy | Kuala Lumpur | CNBC | Asia | NBAD | future |

More Industry, Logistics & Shipping Stories

calendarCalendar of Events