ASEAN energy demand to grow by 21% in 2024

Fossil fuel will still account for the largest share in energy consumption.

Association of Southeast Asian Nations (ASEAN) energy demand could increase by 21% this year compared to 2021 levels, with fossil fuels expected to dominate the energy sectors.

In a report, the ASEAN Centre for Energy said oil will hold the largest share in energy consumption at 45.8%.

“Sectoral analysis shows that all end-use sectors see an increase in energy consumption driven by population and economic growth,” the report said.

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The region's economy is expected to grow by 5.2%.

Whilst economic activities have reached pre-pandemic levels, the region will still face economic pressures which will affect the economic growth globally.