Singapore International Energy Week (SIEW) 2015 will focus on “Global Energy Transitions”, driving an industry-wide discussion on the evolving nature of the energy landscape worldwide.
The theme reflects the current and potential impact of industry changes, including oil price volatility, market interconnectivity, and alternative energy growth, said Mr Kng Meng Hwee, Deputy Chief Executive, Energy Market Authority.
Given its high energy demand, Asia in particular will play a pivotal role in ensuring the resulting opportunities and challenges are properly leveraged and addressed, he said.
Mr Kng kicked off the ongoing conversation on “Global Energy Transitions” at the SIEW 2015 launch on 30 March in Singapore. James Koh, Senior Analyst at Energy Market Authority offered further insights on the dynamic changes in Southeast Asia’s economic and energy systems in the context of an expected 80 percent rise in the region’s energy demand between 2013 and 2035.
With this context, three industry leaders – Thomas Jakob, Regional President Asia Pacific, Bosch Software Innovations; Oliver Hsieh, Associate Director, Commodities Price Risk Management, KPMG; and Jonty Rushforth, Editorial Director, Asian and Middle Eastern Oil Markets, Platts – led a dialogue on the world’s changing energy frontiers and the region’s energy security and resilience.
They specifically focused on three global energy advancements: the impact of oil’s low prices and high-volatility on renewables; infrastructure and its role in energy security; and Asia’s position in the future of energy worldwide. The three panelists agreed that the momentum for renewables will continue, with energy sources diversifying away from oil and gas despite low prices.
The industry is now examining the energy balance moving forward to see which new energy sources will prevail and survive. Looking to the future, the conversation will likely shift away from the role of renewables in the energy landscape to a more detailed discussion on the role of solar or the role of wind.
These decisions will impact global energy security as well, but the priority here will be cross-border infrastructure. “Infrastructure needs to be in place across the region,” said Hsieh. “A lot can be done further to connect those markets together.”
This regional consistency and interconnectivity is essential. “If you’re going to have a broadening hub, you need a harmonious approach,” said Rushforth. “Singapore is providing the core of that hub but when you look at physical infrastructure, there is a big consumer market around the area. For solid, efficient markets and good price discovery, you need a joined-up approach to regulation.”
As Asia comes together to convene its energy technology and energy infrastructure in the most efficient way possible, it will increasingly guide the world’s energy landscape. Industry thought leaders will address how to best navigate this shift and other energy transitions at the eighth edition of SIEW.
SIEW 2015 will gather top energy thought leaders to participate in the world’s leading conferences and exhibitions across the entire energy spectrum – including oil and gas, downstream, renewables and energy infrastructure financing. Key focal points of the week will include the SIEW Opening Keynote Address and the Singapore Energy Summit. SIEW 2015 will also host an SG50 Jubilee event in special commemoration of the nation’s 50th anniversary.
For the first time, Gastech – one of the world’s largest LNG and natural gas conferences and exhibitions – will join SIEW partners including Asia Downstream Week, Asian Energy Financial and Investment Conference, Renewables@SIEW, Asia Clean Energy Summit and Platt’s Annual Top 250 Global Energy Company Awards Dinner.
SIEW 2015 will be held at the Sands Expo and Convention Centre, Marina Bay Sands Singapore, from 26 to 30 October 2015.
Mr Kng Meng Hwee, Deputy Chief Executive, Energy Market Authority, announces "Global Energy Transitions" as the theme of Singapore International Energy Week 2015 to more than 200 industry leaders".
Industry leaders (L-R John O’Callaghan, Director, Publishing & Partnerships, Southeast Asia; Jonty Rushforth, Editorial Director, Asian and Middle Eastern Oil Markets, Platts; Oliver Hsieh, Associate Director, Commodities Price Risk Management, KPMG; and Thomas Jakob, Regional President Asia Pacific, Bosch Software Innovations) discuss the evolving global energy landscape at the SIEW 2015 launch on 30 March 2015 in Singapore.
Participants at SIEW Launch 2015 discussing energy trends and issues during the event.