The Issue with Energy Consumption in Asian Countries is a Matter of Concern to the Global Community

5 july 2016

"Asian countries, in particular China and India, are nowadays among the fastest growing economies in the world, and the key factor for the growth over the past few decades has become their industrialization," said Leonid Grigoryev, Chief Adviser to the Head of Analytical Center, in his speech at the 2016 Asia Energy Cooperation Forum in Chongqing, China. At the same time, as the expert presumes, China is close to finishing its rapid industrialization and, at this stage, the country's industry and physical infrastructure (roads, grids, utilities) are growing and developing, the population continues to urbanize.

Southeast Asia, in its turn, gradually accumulates in the region the production capacity of major Western and Asian companies. This leads to the fact that the Asian energy sector is developing faster than those of all other regions in the world. The structure of energy consumption in Asian countries is very diverse and depends on numerous factors – geographical, economic, and political ones.

The energy consumption in Asia is a matter of concern to the world community for various reasons. "On the one hand, energy exporters, for whom the growing Asian market opens up new possibilities for energy supply, are interested in an appropriate assessment of Asia's prospects. On the other hand, the issue of environmental safety and the need to maintain and strengthen it in the context of world's total increase in energy consumption involves the transformation of the energy sector and action to stabilize greenhouse gas emissions in developing countries," said Mr. Grigoryev. Even now, Asian countries are the largest emitters of greenhouse gases; therefore, it is very important to take into account their need of energy supply, the expert emphasized.

The 2016 Asia Energy Cooperation Forum was held with the support of the Chinese Ministry of Foreign Affairs and the National Energy Administration of China. The forum discussed the issues of international cooperation in energy sector and Asia's energy security.