{"id":227231,"date":"2013-10-08T18:10:12","date_gmt":"2013-10-08T10:10:12","guid":{"rendered":"http:\/\/charltonsnaturalresources.com\/?p=227231"},"modified":"2021-08-16T16:57:17","modified_gmt":"2021-08-16T08:57:17","slug":"international-energy-agency-publishes-southeast-asia-energy-outlook-report","status":"publish","type":"post","link":"https:\/\/charltonsnaturalresources.com\/en\/international-energy-agency-publishes-southeast-asia-energy-outlook-report\/","title":{"rendered":"International Energy Agency publishes Southeast Asia Energy Outlook report"},"content":{"rendered":"[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;CNR NEWSLETTER&#8221; module_class=&#8221;cnl-wrapper&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_row admin_label=&#8221;Header&#8221; module_class=&#8221;cnr-nl-header&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.2&#8243;][et_pb_text admin_label=&#8221;Header&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-header\">\r\n<div class=\"cnl-type\">NATURAL RESOURCES<\/div>\r\n<div class=\"cnl-issue\">Newsletter-Issue 004<\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Logo&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;Logo&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-logo\">\r\n<img decoding=\"async\" src=\"\/legal\/newsletters\/cnl_logo.jpg\" alt=\"Charltons Natural Resources\" \/>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Banner&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;Banner&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-banner\">\r\n<div class=\"cnl-banner-image\"><img decoding=\"async\" src=\"\/legal\/newsletters\/newsletter_issue_004.jpg\" alt=\"International Energy Agency publishes Southeast Asia Energy Outlook report\" \/><\/div>\r\n<div class=\"cnl-title\">\r\n<div>\r\n<span>October 2013<\/span>\r\n<h1>International Energy Agency publishes Southeast Asia Energy Outlook report<\/h1>\r\n<div class=\"cnl-pdf\"><a href=\"\/images\/stories\/newsletters\/naturalresources\/2013\/nrh004-8Oct2013.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Download PDF<\/a><\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_2,1_2&#8243; admin_label=&#8221;Content&#8221; module_class=&#8221;cnl-main-content&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;column1&#8243; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-column cnl-col1\">\r\n<div class=\"cnl-text\">\r\n<p>On  2  October  2013  the  International  Energy  Agency  (<strong>IEA<\/strong>) published its Southeast Asia Energy Outlook report (<strong>Report<\/strong>). The  report  was  prepared  in  response  to  discussions  by  Ministers  gathered  at  the  Sixth  East  Asia  Summit  Energy  Ministers  Meeting  on  12  September  2012,  in  Phnom  Penh,  Cambodia.  The  IEA  were  assisted  in  their  research  by  a  number  of  international  experts  from  different  energy  related  fields. \r\n<br><br>The Report notes that the centre of gravity of the global energy system  is  shifting  towards  Asia,  most  particularly  to  India,  China and to the ASEAN region and that the outlook for energy production  and  demand  in  South  East  Asia  has  implications  that will be felt well beyond the region. Some of the Report\u2019s highlights are set out below:-<\/p>\r\n<\/div>\r\n<div class=\"cnl-text cnl-next-col\">\r\n<ul>\r\n<li><p>Southeast Asia\u2019s primary energy mix is currently dominated by fossil fuels, with oil, natural gas and coal making up more than  three-quarters  of  demand.  The  Report  notes  that  over  recent  decades,  there  has  been  an  on-going  shift  towards  coal and natural gas, primarily at the expense of oil in power generation   and   industry,   and   traditional   biomass   in   the   residential  sector.  Oil  remains  the  dominant  fuel  with  a  37%  share of the ASEAN energy market mix, whereas natural gas has  a  21%  share.    Coal,  the  use  of  which  has  been  rising  at  double-digit rates since 1990, has a 16% share.<\/p><\/li>\r\n<li><p>Efforts  are  underway  to  boost  the  deployment  of  modern  forms   of   renewable   energy,   such   as   hydro,   geothermal   and  biomass  power,  co-generation  technologies  and  solar  photovoltaic  (PV)  which  together  currently  account  for  only  12%  of  the  primary  energy  mix.    The  Report  predicts  that  renewables-based  power  will  increase  by  more  than  the  current total power output of Indonesia &#038; Thailand combined, although barriers to deployment need to be tackled<\/p><\/li>\r\n<li><p>By 2035 Southeast Asia\u2019s energy demand is set to increase by over four-fifths, or by more than the current consumption of Japan<\/p><\/li>\r\n<li><p>By  2035  electricity  generation  is  set  to  increase  by  more  than the current power output of India; coal will emerge as the fuel of choice, accounting for 58% of growth<br>\u2022Southeast Asia is set to become the world\u2019s fourth-largest oil importer (behind China, India and the EU)<\/p><\/li>\r\n<li><p>The Report predicts that the ASEAN region will import 75% of its oil by 2035, and that spending on oil imports will triple to $240 billion; at the same time net revenues from gas exports are set to fall by more than three-quarters<\/p>\r\n<p><img decoding=\"async\" src=\"\/legal\/newsletters\/issue_04_photo_01.jpg\" \/><\/p>\r\n<\/li>\r\n<li><p>By 2035 Indonesia will account for 85% of Southeast Asia\u2019s coal  production  and  will  remains  the  world\u2019s  top  exporter  of steam coal.<\/p><\/li>\r\n<li><p>Despite   recent   reforms   aimed   at   curbing   government   intervention  fossil-fuel  subsidies  in  the  region  amounted  to  $51 billion in 2012. The subsidies, most commonly granted in Indonesia and Malaysia distort regional energy markets.<\/p><\/li> \r\n<\/ul>\r\n<\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;column2&#8243; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-column cnl-col2\">\r\n<div class=\"cnl-text\">\r\n<h2>Congolese   government   looking   to   sell stake in Glencore\u2019s copper project<\/h2>\r\n<p>Mining.com  reports  that  the  Congolese  state-owned  miner  Gecamines   is   willing   to   sell   its   20%   stake   in   Glencore   Xstrata\u2019s  (<strong>Glencore<\/strong>)  Kamoto  Copper  company  (<strong>Kamato<\/strong>). Reports suggest that the firm is looking at 14 potential buyers. Glencore\u2019s subsidiary Katanga Mining (<strong>Katanga<\/strong>) holds a 75% stake  in  Kamoto.  Kamoto  is  targeting  a  production  output  of  300,000 metric tonnes by the end of 2014.  If successful it will be  the  DRC\u2019s  largest  mine.  Gecamines  are  believed  to  want to  sell  because  Katanga  has  missed  production  targets  for  five  years  in  a  row  and  holds  too  much  debt.  The  proposed sale may not proceed if Gecamines can finance a $2.75 billion reorganization plan.<\/p>\r\n<\/div>\r\n<div class=\"cnl-text\">\r\n<h2>U.S.  Is  Overtaking  Russia  as  Largest  Oil-and-Gas Producer<\/h2>\r\n<p>The  Wall  Street  Journal  (<strong>WSJ)<\/strong>  has  reported  that  the  U.S.  is  overtaking  Russia  as  the  world\u2019s  largest  producer  of  oil  and natural gas.  The news is further evidence of reshaping global production  trends  in  the  wake  of  the  U.S.\u2019s  exploitation  of  its shale gas.  The WSJ analysis found that the U.S. is on track to surpass Russia as the world\u2019s largest combined producer of oil and gas in 2013.  The U.S. produced the equivalent of about 22  million  barrels  a  day  of  oil,  natural  gas  and  related  fuels  in July whereas Moscow is forecast to produce approximately 21.8  million  barrels  a  day  in  2013.  Increased  U.S.  domestic  production  has  led  to  significant  decreases  in  oil  and  gas imports.<\/p>\r\n<\/div>\r\n<div class=\"cnl-text\">\r\n<h2>BP wins spill compensation appeal<\/h2>\r\n<p>BP  will  cease  making  pay-outs  in  relation  to  some  claims  arising out of the 2010 Deepwater Horizon disaster in the Gulf of Mexico. The oil giant enjoyed a first victory in its legal campaign to limit its compensation settlement to claims where claimants were  able  to  demonstrate  \u201cactual  injury  or  loss  traceable\u201d  to  the  accident.  Appealing  a  2012  court  decision  BP  asserted  that  the  administrator  of  the  pay-out  program  was  approving  millions of dollars of payments covering \u2018fictitious\u201d claims. On Wednesday  2  October  the  5th  U.S.  Circuit  Court  of  Appeals  in  New  Orleans  approved  an  injunction  to  stop  payments  to  businesses that had not demonstrated they passed the test for \u201ctraceable  loss\u201d.  To  date  the  cost  of  the  settlement  has  risen  to double original estimates of $7.8bn. Shares in BP, which are still trading below the level they were at before the Deepwater Horizon accident, rose slightly following the court\u2019s decision.<\/p>\r\n<\/div>\r\n<div class=\"cnl-text\"><h2>London   Metal   Exchange   to   boost   reporting transparency<\/h2>\r\n<p>The  London  Metal  Exchange  (<strong>LME<\/strong>)  is  planning  to  start  publishing  information  about  the  futures  positions  of  hedge  funds  and  other  traders  in  response  to  calls  for  greater  transparency.  Last month, United Company Rusal (0486.HK) and  U.S.  based  Alcoa  sent  open  letters  to  the  LME  urging  it  to match its U.S. rival, the CME Group in providing more data about the make-up of investors\u2019 positions. LME\u2019s new owners the Stock Exchange of Hong Kong has previously indicated it is willing to introduce stricter regulation and has also proposed an overhaul of the LME\u2019s warehousing system.<\/p>\r\n<p><img decoding=\"async\" src=\"\/legal\/newsletters\/issue_04_photo_02.jpg\" \/><\/p>\r\n<\/div>\r\n\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Button Navs&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;navs&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-bott-navs\">\r\n<div><span><\/span><a href=\"https:\/\/charltonsnaturalresources.com\/en\/rio-tintos-and-chalcos-guinea-iron-ore-development-may-commence-production-ahead-of-schedule\/\" target=\"_self\">Rio Tinto&#8217;s and Chalco&#8217;s Guinea iron ore development may commence production ahead of schedule<\/a><\/div>\r\n<div><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mmyanmar-onshore-tender-winners-announced\/\" target=\"_self\">Mmyanmar onshore tender winners announced<\/a><span><\/span><\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Legal Advice&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;Legal Advice&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-legal-advice\">\r\n<h3>This newsletter is for information purposes only.<\/h3>\r\n<p>Its contents do not constitute legal advice and it should not be regarded as a substitute for detailed advice in individual cases.\r\nTransmission of this information is not intended to create and receipt does not constitute a lawyer-client relationship between Charltons and the user or browser.\r\nCharltons is not responsible for any third party content which can be accessed through the website.<\/p>\r\n<p>If you do not wish to receive this newsletter please let us know by emailing us at <a href=\"mailto:unsubscribe@charltonslaw.com\">unsubscribe@charltonslaw.com<\/a><\/p>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Footer&#8221; _builder_version=&#8221;4.4.3&#8243; disabled_on=&#8221;on|on|on&#8221; disabled=&#8221;on&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;Footer&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-footer\">\r\n        <div class=\"cnl-footer-award\">\r\n                <div>\r\n                       <img decoding=\"async\" src=\"\/legal\/newsletters\/cnl_logo_footer.png\">\r\n                        <h2>Best Boutique Firm 2013<\/h2>\r\n                        <span>Asian Legal Business Awards<\/span>\r\n                <\/div>\r\n        <\/div>        \r\n<\/div>\r\n<div class=\"cnl-foot-address\">\r\n        <div>Hong Kong Office: Dominion Centre, 12th Floor, 43-59 Queen\u2019s Road East, Hong Kong Tel: + (852) 2905 7888 Fax: + (852) 2854 9596<\/div>\r\n        <div>Website: <a href=\"https:\/\/www.charltonslaw.com\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/www.charltonslaw.com<\/a><\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]","protected":false},"excerpt":{"rendered":"On 2 October 2013 the International Energy Agency (IEA) published its Southeast Asia Energy Outlook report (Report). The report was prepared in response to discussions by Ministers gathered at the Sixth East Asia Summit Energy Ministers Meeting on 12 September 2012, in Phnom Penh, Cambodia. The IEA were assisted in their research by a number of international experts from different energy related fields.","protected":false},"author":1,"featured_media":227237,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"fifu_image_url":"https:\/\/www.charltonsnaturalresources.com\/legal\/news\/newsletter\/international-energy-agency-publishes-southeast-asia-energy-outlook-report.jpg","fifu_image_alt":"International Energy Agency publishes Southeast Asia Energy Outlook report","footnotes":""},"categories":[23],"tags":[],"class_list":["post-227231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","cat-23-id"],"_links":{"self":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/posts\/227231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/comments?post=227231"}],"version-history":[{"count":6,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/posts\/227231\/revisions"}],"predecessor-version":[{"id":233649,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/posts\/227231\/revisions\/233649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/media\/227237"}],"wp:attachment":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/media?parent=227231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/categories?post=227231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/tags?post=227231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}