Kuala Lumpur: The Southeast Asian bloc ASEAN is poised to become a pivotal hub for future energy demand, OPEC's Secretary General Haitham Al-Ghaith announced. The region is projected to spearhead global energy demand, accounting for nearly half of global consumption and 70 percent of energy growth by 2050, Al-Ghaith stated at the Energy Asia 2025 conference in Kuala Lumpur, underlining ASEAN's crucial role in the energy sector's future.
According to Kuwait News Agency, Al-Ghaith emphasized the significance of ASEAN member states in the global energy landscape. He projected that Asia would see an addition of over 800 million vehicles to its car fleet by 2050. OPEC member states, as energy exporters, maintain a collaborative relationship with importers like Southeast Asian countries, he added.
Looking ahead to 2030, Al-Ghaith estimated that approximately half a billion people would migrate to new urban areas, effectively creating 50 new cities the size of Kuala Lumpur within five years. This urbanization is anticipated to drive a substantial increase in global energy demand.
As the world transitions to cleaner energy sources, Al-Ghaith advocated for a balanced approach that ensures energy security and affordability. He warned that renewables alone would not satisfy global energy needs. OPEC estimates suggest a 24 percent rise in global energy demand by 2050, with the Asian region experiencing the most rapid growth. He acknowledged initiatives in Saudi Arabia and the UAE to advance the shift to renewable energy sources.
The Kuala Lumpur conference gathers around 4,000 participants, including decision-makers and experts, to deliberate on the future of the energy industry both regionally and globally.