First American Scientific Corp. (fka FASC)

[ptrey]

Wonder if CAL & Brian made this conference?

http://money.inq7.net/breakingnews/view_breakingnews.php?yyyy=2004&mon=06&dd=08&file=16


ASEAN will need $461B in energy investments thru 2020
Posted: 8:57 PM / Jun. 08, 2004

Agence France-Presse

ASEAN countries will need as much as 461 billion dollars in investments in the energy sector from 2001 to 2020 to sustain economic growth, the ASEAN Centre for Energy said Tuesday.

Speaking at a business conference, being held parallel to an ASEAN ministerial forum on energy, executive director Guillermo Balce said that energy consumption in ASEAN would rise to about 583 million tons of oil equivalent (MTOE) in 2020 from 280 MTOE in 2000.

The largest investment, or about 323 billion dollars, would be needed in the electricity sector, Balce said.

"If you really want to invest in Southeast Asia, invest in electricity because most of the findings (for demand) are in electricity," he told businessmen at the ASEAN energy business forum.

Among the 10 member countries of the ASEAN, the Association of Southeast Asian Nations, Indonesia would require the most investment, ranging from 110 billion to 155 billion dollars, he said.

Thailand was second with about 74 billion to 103 billion dollars, he added.

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Balce, who is the executive director of the Jakarta-based study group, said that the estimates were based on expectations that economic growth would continue to improve within ASEAN with energy demand expanding even faster.

Speaking at the same forum, Ong Keng Yong, secretary-general of ASEAN, said that based on the ASEAN plan of action for economic and energy cooperation, the region would need 100 billion dollars in investment in energy from 2005 to 2010.

Some seven billion dollars would be needed to develop the natural gas potential of the region, Ong added.