SE Asia needs $100 billion investment in power sector by 2015

Southeast Asia will require at least US$100 billion worth of investment in its power sector over the next 12 years to meet its rapidly growing electricity needs, a senior Thai electricity official said in Singapore on Monday.

Speaking at a regional energy forum, Electricity Generating Authority of Thailand governor Sitthiporn Ratanopas said the region's power needs would increase from some 62,000 megawatts in 2002 to 116,000 megawatts in 2010 and 163,000 megawatts by 2015, Koran Tempo newspaper reported.

"What this number tells you is that from 2002 to 2015 in this region, we need another 100,000 megawatts ... in this region," said Sitthiporn.

"Some of you might know that for one megawatt of power supply we need $1 million," he said.

Sitthiporn said the North Asia has potential vast resources for hydropower generation.

?In Myanmar, there?s a potential for 100,000 MW (of hydropower generation) in one country, and you still have potential in Vietnam, Laos and southern China, ?he said.

On the other hand, electricity generation in Malaysia, Indonesia and Brunei is dominated by coal, gas and oil.

To meet the region's growing energy needs, the 10 members of ASEAN signed in July a memorandum of understanding (MOU) for a Trans-ASEAN Gas Pipeline (TAGP) project.

"Through this MOU, ASEAN member countries (have) committed to work together to enhance gas security in the region," Singapore's Minister of State for Trade and Industry Raymond Lim said in a speech.

"With the participation of both the public and private sectors in the TAGP project, ASEAN member countries can look forward to the development of gas sources and trading arrangements that are mutually beneficial for the gas buyers and gas sellers," he said.

It is estimated that Southeast Asia's energy requirements will grow to nearly 400 million tons of oil equivalent by 2020 from 150 million in 2000.

The conference will end on Tuesday. (*)