Asia Will Account for 70% of Incremental Energy Demand

  • world economic forumShort domestic supplies will continue to drive China’s need for international energy deals
  • Water and pipeline challenges limit China’s ability to exploit domestic shale gas
  • While solar grows, coal will continue to dominate China’s energy mix
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Dalian, People’s Republic of China, 12 September 2013 – Today at the Annual Meeting of the New Champions 2013, Lin Boqiang, Director, China Center of Energy Economics Research, said that 70% of global incremental energy demand over the next 20 years will come from Asia.

Commenting on recent overseas embassies made by Chinese government officials, Lin said that, due to China’s limited domestic energy supplies, Chinese diplomatic efforts will continue in energy trade deals.

While renewable technologies, particularly solar energy and clean coal technologies, will play an increasingly important part in the Asian energy mix, coal will continue to dominate, at least for the next 20 years. “One way or the other, we’re going to be dealing with coal for a long time to come,” said Lin.

Limitations on the availability of water and the Chinese government’s monopoly of pipeline infrastructure are both slowing the pace of shale gas exploration in China, he noted.

On the same panel, Gao Jifan, Chairman and Chief Executive Officer, Trina Solar (TSL), People’s Republic of China, said he believes solar power will play a larger part in the future of energy in Asia. Gao, whose company exports more than 70% of its solar panels, criticized recent US trade embargoes on Chinese‑manufactured solar panels. “US factories lost their competitiveness,” said Gao. ”And they used WTO rules to raise anti-dumping campaigns against China.”

Over 1,600 participants from 90 countries are taking part in the seventh Annual Meeting of the New Champions in Dalian on 11-13 September. The Meeting is held in close collaboration with the Government of the People’s Republic of China with the support of the National Development and Reform Commission (NDRC).

Under the theme Meeting the Innovation Imperative, the Meeting features an intensive three-day programme to explore the innovation imperative under four thematic sub-themes: Transforming Industry Ecosystems; Unleashing Innovation; Building Societal Resilience; and Connecting Markets