Energy security and resource exploration in ASEAN
Dr. Zulfikar Yurnaidi, an expert in energy policy, shared his insights on the future of energy in the Southern Caspian region. He believes that as the economy grows, energy demand and supply will also increase. Although renewable energy is expected to play a bigger role, oil, coal, and transport will still be significant players in the energy market, with Indonesia being the largest player followed by Malaysia, Vietnam, and the Philippines.
Currently, coal is the primary source of electricity generation in the Southern Caspian region, but renewable energy is expected to become more popular in the future. Dr. Yurnaidi predicts that coal will still have a significant share of energy generation until 2050, but renewable energy such as solar, wind, and hydro power will become more prevalent afterward.
The ASEAN Energy Outlook also highlights that the region will become a net importer of natural gas by the mid-2020s and coal by the late 2030s due to a lack of exploration of new resources and rising demand. This may pose a threat to energy security, but Dr. Yurnaidi suggests that implementing national and regional policies to increase the use of renewable energy and improve energy efficiency can help to secure the energy supply and reduce dependence on natural gas and coal.
To know more, watch the full interview.