The disaster that struck Japan, putting a question mark on the safety of nuclear energy, coupled with spiking oil prices is pushing energy security to the top of the regional agenda. Moreover, this month China has endorsed its 12th Five-Year Plan, with the goal of sustaining its phenomenal pace of economic growth, while addressing climate change and environmental issues.
China is at the epicenter of Asia’s rapid economic expansion, with India following closely behind, but this is also fueling the enormous appetite for energy resources across the entire Asia-Pacific region.
The torrid pace of development, coupled with rising consumer purchasing power and a boom in vehicle sales, has made this region “ground zero” for world energy demand.
Over the past two decades, the Asia-Pacific has accounted for more than two-thirds of the growth in world energy demand. Fr...