Saturday, November 19, 2011

Exxon Mobil: Gas, coal to stay as region’s main energy sources

KUALA LUMPUR: Natural gas and coal will continue to be the main energy sources in South-East Asia, said Exxon Mobil Corporation.

Senior energy advisor, corporate strategic planning department, David S. Reed said Malaysia would continue to see rising demand for electricity driven by the residential, commercial and industrial sectors, mainly for air conditioning.

He said gas and coal provide the lowest cost electricity generation in South-East Asian countries like Malaysia, and would contribute further to the increase in demand.

“Demand for coal and gas together for electricity production is expected to triple from 2005 to 2030,” he said in a media roundtable on ExxonMobil's Outlook for Energy here yesterday.

Reed said power generation demand increases the most volumetrically as electricity demand grows with higher incomes.

“Today, about 40% of the world's power comes from coal, while about 20% comes from natural gas.“However, the government will gain as natural gas produces up to 60% less CO2 emissions than coal,” he said. ExxonMobil projects global energy demand to rise by 35% from 2005 to 2030, even with substantial gains in efficiency across all regions around the world.

He said the world's energy supply was getting very diverse and would continue to be so, which signified a good trend.

Transportation energy demand in South-East Asia would nearly double going forward due to a rapid increase in the personal car fleet and road and marine freight movements, he added.

“Industrial demand growth is supported by growth in heavy industry such as steel and cement production and auto manufacturing,” he said.

It would take decades to make a meaningful change to the world's energy mix, but those changes were underway in South-East Asia and globally, he said.

Reed said the world was moving towards cleaner, more diverse energy sources. - Bernama

1 comment:

  1. I think who can manage renewable energy in the future, he will be the leader of the world's economic.