The National Bank of Abu Dhabi (“NBAD”), the Middle East’s leading bank, and CNBC, the leading business and financial news network, will convene a panel of leading energy experts to discuss the future of energy for Asia, in Kuala Lumpur on 15 December. The panellists will consider future energy supply, and the ways in which governments, businesses and financial institutions can work together to meet increasing demand.
Asian oil demand has leapt 41.5% since 2000, the greatest regional increase in the world. Currently producing around 8 million barrels of oil a day and consuming over 29 million barrels a day, Asia is at the centre of the changing global energy landscape. The supply-demand gap is only going to widen further, with Asia expected to account for 88% of the growth in global oil demand to 2035 (source: OPEC). While the world debates the 40% oil price plunge since June, in Asia the story is about how to meet the energy demand growth and supply shortfall over the next 20 years.
The expert panel will meet at The Mandarin Oriental Hotel, Kuala Lumpur, on 15 December, 2014, and will comprise Tan Sri Rastam Mohd Isa, CEO of the Institute of Strategic & International Studies; Datuk Torstein Dale Sjotveit, CEO of Sarawak Energy; Anthony J. Jude, Chairman of The Asian Development Bank’s Energy Committee; and Marc Mollema, Global Head of Energy & Resources at NBAD. The panel discussion will be moderated by seasoned news anchor and moderator, Lisa Oake.
Alex Thursby, the Group Chief Executive Officer of NBAD, said “Over the next 10 to 15 years, the West-East corridor, which stretches from West Africa to East Asia, will be the fastest growing super-region in the world, with the highest concentration of megacities on the planet. This growth has to be sustainable if we are to preserve our world for future generations. This event is a key to unlocking sustainable energy investment opportunities and it will lay the foundations for the Global Financial Markets Forum (GFMF), taking place in Abu Dhabi in March next year.”
Susan Yuen, NBAD’s Asia CEO, said “This panel discussion is taking place at a very interesting time for the world economy and energy while the world debates an oil price plunge, the story of Asia is about meeting the demand growth and supply shortfall of energy over the next 20 years”.
“Our speakers will have a wide-angled perspective covering challenges for fossil fuel, renewable energy, financing opportunities, energy sustainability and the impact of urbanisation on both demand and supply of energy for the future”.
“The Future of Energy; West East Corridor” is the first in a series of events taking place around the world as part of NBAD’s Global Financial Markets Forum (“GFMF”); other Global Financial Markets Series will be held in London in February 2015 and Mumbai in June 2015.
In just six years, the GFMF has evolved to become the premier annual financial markets conference in the MENA region, attracting over 1,300 delegates from around the world to Abu Dhabi. In recent years, GFMF has hosted highly-distinguished speakers from all over the world, including Dr Ben Bernanke, Dr Larry Summers, James Baker, Nicholas Sarkozy, David Millibad, Jean-Claude Trichet, Niall Ferguson, Paul Volcker, Axel Weber, Dr. Nassim Nicholas Taleb,His Excellency Sheikh Sheikh Nahyan bin Mubarak Al Nahyan and His Excellency Nasser Ahmed Al Sowaidi.
The 2015 GFMF, to be held in Abu Dhabi on 1-2 March, will continue to showcase a high-calibre mix of regional and international speakers, facilitating thought-provoking discussions both on and off stage. The forum will be covered extensively by CNBC, who will be broadcasting live from their on-site studio at the Emirates Palace.