Southeast Asia is on course to account for 25% of global energy demand growth up to 2035, according to a new report by the International Energy Agency on Tuesday.
By mid-century, energy demand in Southeast Asia will overtake that of the EU, according to the report titled Southeast Asia Energy Outlook 2024.
Southeast Asia's booming economy and population will fuel rapid energy demand growth in the next decade, 'second only to India over the period and more than double the region's share of growth since 2010,' the Paris-based energy watchdog said.
Electricity demand in Southeast Asia is expected to rise by 4% annually, driven largely by the growing use of air conditioning in response to increasingly frequent heatwaves.
Commenting on the report, IEA executive director Fatih Birol said that the region is one of the most economically dynamic regions of the world.
'Countries in the region have a diverse mix of energy sources including highly competitive renewables,' Birol said.
Though clean energy technologies are not expanding quickly enough, Birol said and added that 'the continued heavy reliance on fossil fuel imports is leaving countries highly exposed to future risks.'
'Access to finance and investment for the region's fast-growing economies will play a pivotal role in strengthening their energy security and delivering on their emissions reduction goals,' he added.
By Handan Kazanci
Anadolu Agency
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