The annual expenditure of Southeast Asian countries for the oil purchase is expected to hike to $240 million by 2035. This corresponds to nearly 4% of the above-mentioned countries’ GDP. It is the focal point of the regular regional forecast drawn up by the International Energy Agency (IEA). It is expected that Thailand and Indonesia are going to boost the oil import growth at the highest pace in the area. In just 22 years, each of the states will be purchasing oil for $70 billion on a yearly basis that exceeds three times the current values. On the whole, the Southeast Asian countries are to become the fourth world’s largest petroleum importer following China, India, and the EC.
The IEA suggests that the oil demand from Asian countries will have surged over 80% by 2035. The daily volume of the petroleum import in the area is to overpass 5 million barrels. Meanwhile, the economic dependence on the oil import sales is supposed to double that will account for 75% of the total need in energy supply. The IEA also forecasts that the coal and gas export sales from the Asian countries will sink sharply amid the rising domestic demand. In particular, the gas supplies are expected to contract by 75% to 14 billion cubic meters. The economists reckon that the local authorities will have to give the full attention to the internal energy production development. Thus, the Asian countries will have to pour almost $1.7 trillion into the appropriate infrastructure advance.