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Energy security once referred mainly to the protection of oil and gas pipelines, personnel and other physical assets. In recent years, the concept has expanded to encompass:
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The safekeeping of a country's energy infrastructure
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Assuring the international energy supply chain as well as who controls its flow and distribution
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Increasing access to alternative energy sources in the event of geopolitical disturbances or other threats to traditional energy supplies, such as oil and gas
In that context, where do the economies in the Asia-Pacific region stand on the issue of energy security? The region represents 29 percent of global oil demand yet represent only 10 percent of production. A similar imbalance exists for natural gas: the region consumes almost 407 billion cubic meters (bcm) while producing only 360 bcm. Moreover, some economies are growing more than 4 percent per annum and their appetite for energy should only to increase over time. Finding ways to manage this imbalance and achieving greater regional energy security is therefore critical. In fact, failing to do so could threaten long-term regional economic strength. This report examines several possible collaborative efforts between producing and consuming economies to address the region's energy security questions. Learn more from the full report, available in English and Chinese PDF attachments below.
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