Global Conference 2011
How Asia Will Meet Its Energy Needs
Tuesday, May 3, 2011 / 11:00 am - 12:15 pm
As Asia's population climbs and a vast new middle class increases its consumption, demand for hydrocarbons is soaring. Nuclear power was long considered fundamental to Asia's growth, but Japan's disaster will put pressure on governments to diversify away from it. Oil will remain part of the energy mix for years to come, but environmental realities mean that natural gas will eventually account for a greater slice of the pie. Sitting in the continent's backyard are huge gas reserves with the potential to catapult Australia ahead of Qatar as the world's biggest supplier of LNG. With the Asian market in mind, international energy companies are spending billions developing natural-gas terminals on the Australian coastline. Is gas the Asian fuel of the future? Are Asian countries nimble enough to retool their energy strategies so that economic growth can continue unabated?