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IEA says Southeast Asia needs $1.7 trillion investment to boost energy security through 2035

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(Globalpost/GlobalPost)

KUALA LUMPUR, Malaysia - The International Energy Agency says Southeast Asia will need $1.7 trillion in energy investments over the next two decades to cope with a surge in demand and counter growing reliance on oil imports.

It says Wednesday the region's energy usage was still low at half of the global average but demand is likely to increase by more than 80 per cent through 2035.

An IEA report projects Southeast Asia's oil imports to rise to just over 5 million barrels a day by 2035, making it the world's fourth-largest oil importer.

It warned that heavy dependence on oil imports could see the region more vulnerable to potential supply disruptions, and estimated that $1.7 trillion in investment is required to boost energy security.

http://www.globalpost.com/dispatch/news/the-canadian-press/131002/iea-says-southeast-asia-needs-17-trillion-investment-boost-e