2021 Recap – Oil and Gas Insights
The Covid-19 pandemic resulted in the reduction of oil and gas supply and demand in 2020. With the increased vaccination rates in 2021, it is hoped that the rebound of the oil and gas sector will drive economic activities towards recovery, which began in Q1. Indeed, the oil and gas sectors are still at the heart of the regional energy agenda to maintain energy security, affordability and support the economy. But the ongoing momentum of the 26th United Nations Climate Change Conference of the Parties (COP26) reminds the ASEAN member states (AMS) to fulfil their climate commitments. Furthermore, according to The 6th ASEAN Energy Outlook, it is predicted that ASEAN will become a net importer of gas around 2024 and of coal in 2035, while the region has been a net importer of oil since before 2005. Therefore, the role of natural gas has become crucial in transforming ASEAN into a low-carbon economy.
2021 Recap – Renewable Energy Insights
With the Covid-19 pandemic persisting through 2021, the renewable energy (RE) sector has shown itself resilient in its drive towards helping economic recovery. The ASEAN Member States (AMS) have been actively strengthening their policy framework to support the adoption of RE, along with advancing RE technology. This has resulted in the widening role of RE regionally, especially solar and wind power. Natural resources such as geothermal and hydropower have also been optimised to fully decarbonise the power system. Moreover, ASEAN has seen growth in the adoption of lowcarbon transportation, such as electric vehicles (EVs) and vehicles that use biofuels.
2021 Recap – Electricity Insights
Following the spread of the Covid-19 pandemic, many countries have been moving towards recovery of their vital sectors. It was hoped that the world in 2021, especially ASEAN countries, would recuperate, ideally to pre-pandemic levels. The electricity sector has a major role in supporting the countries’ economic recovery after many power projects were delayed in 2020.
News Highlights (December 2021)
ASEAN’s Transition Pathway to Realise a Resilient and Net-zero Community: Core Findings from the ASEAN State of Climate Change Report
Using 4IR Tech to Tackle Climate Change In ASEAN
Following the ambitious targets of the Paris Agreement and COP26 in Glasgow, a new advanced technology framework to help tackle climate issues needs to be more developed. The Glasgow Climate Pact emphasizes the urgency of scaling up action and support, including finance, capacity-building, and technology transfer to enhance adaptive capacity, strengthen resilience and reduce vulnerability to climate change events.
Role of Natural Gas in Advancing Low-Carbon Energy Transition in ASEAN
Despite an urgent need to reduce carbon emissions, the reality of the situation is that the ASEAN region is still relying on fossil fuels, while the region is pursuing an energy transition to renewable energy.
Edward Elgar Handbook Chapter 4 – Local and global aspects of coal in the ASEAN countries
To review the newly submitted and updated Nationally Determined Contributions (NDCs) of the ten ASEAN Member States ahead of the COP26.
