Southeast Asia’s growing deficit of fossil fuels including oil, natural gas and coal up to 2040 will dictate energy trends for the whole region, including trade flows, investments and policy making, according to the International Energy Agency’s latest outlook. The deficit of primary energy sources will be triggered by a combination of declining production and reserves in the region, ballooning demand due to rising population and regulations that curb exploitation of natural resources. While each country faces different challenges, in total the region will be short of oil, gas and coal by 2040, the IEA said in its 2017 Southeast Asia Energy Outlook. “Flattening gas production and rising demand in recent years calls into question the position of Southeast Asia as a net gas exporter,” the IEA’s director of energy markets and security Keisuke Sadamori said. He said rising oil demand and declining production have already increased the region’s […]