Maria van der Hoeven, executive director of the International Energy Agency (IEA), addresses more than 1,000 delegates on the first day of SIEW 2014.
By Kenny Kee
Collaboration and connections are vital for countries to tackle energy challenges that range from dwindling fossil fuels to infrastructure issues, the executive director of the International Energy Agency (IEA) said on Monday at Singapore International Energy Week 2014.
Maria van der Hoeven said addressing the challenges requires the “will and brains of humanity”. Engagement on regional and global scales will not happen overnight and will demand difficult infrastructure, market and political decisions, she added.
“Working together will be the key to forming a transparent electricity market,” van der Hoeven told energy industry executives and government officials on the first day of the 7th annual event.
She highlighted the planned ASEAN Power Grid among members of the Association of Southeast Asian Nations as an example of collaboration that will help participants in the diversification of the energy mix. Sharing knowledge in the development of clean technology was also critical, she said.
In Asia, natural gas production is falling in countries such as Malaysia and Indonesia as demand rises across the region, van der Hoeven said. She noted IEA estimates that the Asia-Pacific region holds 10 percent of the world’s natural gas reserves that can be recovered conventionally, adding that Asian countries will have to work together to extract the gas and develop the interconnectivity of pipelines.
In more advanced economies, greater collaboration is needed to avoid difficult situations such as stagnating energy demand and ageing infrastructure, she said.
Asked about changes in the global energy landscape, she noted new gas supplies from Australia, the United States and parts of Africa. The recent fall in oil prices will not continue forever, she said.
Click here to watch a clip of her presentation.
View her speech here and slides here.
Watch the full lunch keynote address here.
About Singapore International Energy Week (www.siew.gov.sg)
The 7th annual SIEW 2014 is the foremost platform for top policymakers, energy practitioners and commentators to discuss energy issues, strategies and solutions. SIEW brings together a robust line-up of world's leading conferences, exhibitions, roundtables and networking events to provide insights and perspectives on the emerging trends and innovations across the energy spectrum of oil & gas, clean and renewable energy, and energy infrastructure financing – in one week, one location. Please visit www.siew.gov.sg for further information.