New base 31 october 2019 energy news issue 1290 by khaled al awadi

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NewBase Energy News 31 October 2019 - Issue No. 1290 Senior Editor Eng. Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Saudi Aramco Tells IPO Bankers It Made $68 Billion in 9 Months
Bloomberg - Archana Narayanan
Saudi Aramco earned $68 billion in the first nine months of the year, cementing its position as the
world’s most profitable company, according to people familiar with the figures.
The state-owned oil producer disclosed the unaudited net figure to financial analysts working on its
planned initial public offering, the people said, asking not to be identified because the information
isn’t public. Aramco has not published comparative numbers for the same period last year and its
media office declined to comment. The IPO process will begin on Sunday, Saudi television news
channel Al Arabiya reported.
When the Saudi company disclosed financial results for the first time earlier this year, showing
income of $111 billion for all of 2018, it vaulted to the top of the list of the planet’s highest-earning
businesses. Its nine-month income alone exceeded the 2018 net posted by Apple Inc., the most
profitable publicly traded company, and is more than the annual earnings of Exxon Mobil Corp., the
biggest listed oil firm.
Profit King
Saudi Aramco’s profit = Apple + Google + Exxon Mobil
Source: Moody's Investors Service, Bloomberg
Saudi Arabia is lifting the veil on the financials of its crown jewel as it hurries to conclude what may
be the world’s biggest share sale ever by the end of the year. Crown Prince Mohammed Bin Salman
is counting on Aramco’s profit and the nation’s vast oil reserves to attract investors to the company’s
IPO, which in turn will help fund his plan to overhaul the Saudi economy.
www.linkedin.com/in/khaled-al-awadi-38b995b
Projecting $91 Billion in 2019

Vastly profitable though the company is, the Saudis have struggled to persuade investors to accept
their valuation of $2 trillion or more. The IPO process will begin on Sunday and shares of Aramco
will start trading on the Saudi stock exchange on Dec. 11, Saudi television news channel Al Arabiya
reported on Tuesday. The company has pledged to pay a dividend of at least $75 billion next year.
The earnings cover a period during which the company was dealing with one of the biggest crises
in its history. Aerial attacks on its facilities in September briefly slashed output by half. Aramco says
it restored production shortly after that attacks and relied on crude in storage and swapped between
different grades to honor all of its commitments to customers.

Saudi Arabia advocates ‘circular carbon economy’ model to
achieve sustainability goals…. The national + NewBase
Kingdom will develop its own carbon trading mechanism that will differ from European model, Saudi
Energy Minister Abdulaziz Bin Salman gestures as he speaks to members of the media on the
sideline of the Future Investment Initiative conference
in Riyadh on Wednesday. Reuters.
Saudi Arabia plans to develop its own carbon trading
mechanism as part of a move to develop a circular
carbon economy (CCE) by the time it hosts next
year's G20 summit of the world's biggest economies
next year, the kingdom's Energy Minister said.
The world’s biggest oil exporter is looking to achieve
standards set under the United Nations' Sustainable
Development Goals and is looking to develop a
system where carbon emissions are reduced, reused, recycled and removed to be used in other
economically-viable ventures to boost the economy, Prince Abdulaziz bin Salman bin Abdulaziz told
delegates at the third Future Investment Initiative on Wednesday.
The kingdom will develop a "closed loop system", which will help restore carbon balance and
contribute to global economic growth in a sustainable manner, he added. “Considering our pivotal
role [as global energy producer] it is our responsibility to find a solution through innovation and
collaboration to create a sustainable framework of growth,” he said.
The prince said Saudi Arabia will soon reveal a system for carbon trading that would be “a fair
carbon trading system, learning from the European version, which didn’t work”.
As Saudi Arabia hosts the G20 next year, one of country’s main focuses will be on global energy
access and a clean energy system that will be the backbone of the kingdom’s circular carbon
economy concept, he noted.

“Carbon is not the enemy …. with the circular carbon economy, carbon will be an opportunity,” he
said, adding that the initiative is Saudi Arabia’s “call to action”.
Saudi Arabia currently produces 10 million barrel per day of crude and has around 260 billion barrels
of proven oil reserves. It is also among the top-ten gas producers globally with over 900 billion cubic
meters of proven gas reserves.
Despite advancements in the renewables and the progress made in reductions in emissions
globally, Prince Abdulaziz said the world cannot achieve carbon balance through these two means
alone as much of the world’s energy is consumed in sectors that are hard to decarbonise - heat,
industrial processes and transportation.
However, the concept of re-use has been proven, he said, and the kingdom, which traditionally
flared associated gases in oil production, has been capturing them and using them in a variety of
ways that have created jobs, fuelled the kingdom’s power plants and contributed to the country’s
GDP growth.
Saudi Arabia, Opec’s biggest oil producer and the largest Arab economy, will reduce local energy
consumption demand by as much as 2 million barrels of oil equivalent by 2030, Prince Abdulaziz
said.
“I find this to be a progressive concept, very bold and the industry will appreciate such a proactive
step being taken by a major oil-producing nation,” said Dr Sultan Al Jaber, UAE Minister of State
and group chief executive of Abu Dhabi National Oil Company. “Today they [Saudi Arabia] extended
an open invitation through this new initiative to collaborate and cooperate with the kingdom to
address this global challenge.”
Developing such a concept, he said, is not a luxury, but a necessity.
“We must embrace the fact that our industry is being disrupted and instead of resisting it, we should
embrace it and come up with real, true solutions centred around customers and true partnership
models,” Dr Al Jaber added.
The US Secretary of Energy Rick Perry agreed, saying the world is going through transitional times
and as “we move to circular carbon economy, as we remove carbon [from the system], natural gas
can be a major part of that transition”. The state of Texas, where the secretary has served as
governor, has managed to reduce emissions through the use of liquefied natural gas, he noted.

Senegal FAR show development economics for SNE oil field,
Source: FAR Limited
FAR Limited has released the economic data for the development of the world class SNE oil field
offshore Senegal.
SNE, the world’s largest conventional oil discovery in 2014, is today recognised as a global tier one
oil field with 2C oil resources in excess of 640 mmbbls. The project will deliver FAR a net 13,670
bbls/d of oil production at US$$11 bbl OPEX.
The unlevered project internal rate of return (IRR) is in excess of 30%. FAR and the JV partners
believe the robust economic returns for SNE has the potential to improve with acceleration of future
development phases as well as the monetisation of gas, and improved oil recoveries.
A key change to previous guidance on total CAPEX for the development has been due to the shift
from a leased FPSO (OPEX) to a purchased FPSO (CAPEX). As a result, it is likely that a larger
proportion of the total CAPEX will be debt funded.

Formal government approval of the Development and Exploitation Plan (EP) and Final Investment
Decision (FID) is anticipated in December 2019 with first oil forecast in late 2022.
FAR managing director Cath Norman, said:
'The release of the economics for the development of the SNE oil field marks an important milestone
for FAR, the Government of Senegal and the RSSD Joint Venture.
The Joint Venture will now progress the final submission of the Development and Exploitation Plan
for the SNE Field to the Minister of Energy in Senegal and anticipate approval of the plan by
Presidential decree before the end of the year.
The finalisation of the economics also allows the JV partners to conclude funding arrangements and
FAR looks forward to updating shareholders in the coming weeks. On successful completion of the
financing for the development, FAR will be fully funded through to first oil from SNE in late 2022.
Given the strong economics for the development, the value of FAR’s share of the SNE field is
forecast to triple in value between now and first oil. This is a terrific result for FAR shareholders,
especially given this estimate does not take into account the anticipated upside opportunities that
are anticipated through the development. FAR’s transition to being an oil producer is an exciting
one – and will see FAR become a material Australian listed oil producer from 2023.'

Indonesia: KrisEnergy to sell its interest in the Andaman II PSC
Source: KrisEnergy
KrisEnergy has accepted a binding letter of offer by a major international oil and gas company for
the disposal of a 30% non-operated working interest in the Andaman II production sharing contract
('PSC') in the Malacca Strait, Indonesia.
The binding letter of offer for the Disposal was accepted after taking into consideration the future
exploration cost and risks associated with deepwater activities. The Board believes it is more
prudent to allocate KrisEnergy’s limited capital to funding near-term development.
Completion under the Disposal including its terms is subject to inter alia obtaining all necessary
approvals from the Government of Indonesia for the assignment of the working interest and the
satisfactory completion of due diligence by the intended purchaser. The long stop date for the
Disposal is 31 March 2020.
The terms of the Disposal set out in the letter of offer are subject to certain assumptions and the
execution and delivery of a definitive sale and purchase agreement and the consideration for the
Disposal will be payable only upon completion.
Andaman II PSC (Source: KrisEnergy)
The Andaman II PSC is an exploration block over the North Sumatra Basin covering an area of
7,400 sq km. The Disposal is in line with the Group’s risk mitigation, intention to reduce future
exposure to exploration capital expenditure and strategy to focus its limited financial resources on
optimising operations at its existing producing assets in Bangladesh and the Gulf of Thailand and
progressing the development of the Apsara oil field in Cambodia block A. The Disposal is in the
Company’s ordinary course of business and does not change the Company’s risk profile.
Due to confidentiality obligations and the conditional nature of the Disposal, the identity of the
intended purchaser and the purchase price cannot be disclosed at this time but the Company will
make such disclosure at the appropriate time.

Thailand: Manora JV partners approve 3 well drilling program
Source: Tap Oil
 Manora Joint Venture partners have approved a three well exploration drilling program plus
a contingent appraisal side-track well scheduled to spud in the last week of November 2019.
 The exploration wells, in order of drilling, are Inthanin-1, Yothaka East-1 and Krissana-1.
 The contingent appraisal side-track is dependent upon success in the Yothaka East-1 and
Krissana-1 wells and will appraise any significant hydrocarbon zones encountered.
 Combined best estimate (P50) Prospective Resources independently estimated at 1.13
MMSTB, net to Tap.
 Tap has budgeted US$1.72 million of expenditure for the three exploration wells on a dry
hole basis and US$2.74 million of expenditure for four wells, including additional wireline
logging to evaluate significant hydrocarbon occurrences.
 All prospects are within 5 km of the Manora platform and success will leverage Manora
production and storage infrastructure.
Tap Oil has announced that the Manora Oil Field Operator, Mubadala Petroleum, and Tap have
approved the drilling of three firm exploration wells and an appraisal side-track contingent upon
exploration success.
The first well in the program, Inthanin -1 is expected to spud in the last week of November 2019 and
will be followed by Yothaka East-1 and Krissana-1. A contingent side-track, into the Yothaka
structure will be dependent upon the results of the Yothaka East-1 and Krissana-1 exploration wells.

All wells are located in the Manora Production Licence, and within 5 km of the Manora platform,
where Tap has a 30% working interest. The Prospective Resource assessment was undertaken by
Discover Geoscience in their capacity as an independent technical expert using data and
information provided by Tap. This assessment was first included in Tap’s ASX release dated 30
September 2019.
Tap’s revised budget costs estimates for wells are based on final approved AFE’s.
These 'near field' prospects are located in close proximity to Manora’s discovered producing
reservoirs. The development of these volumes would take advantage of existing infrastructure and
operating capability.
The Inthanin prospect could be developed by deviated wells drilled directly from the Manora
platform. Development of the Yothaka East – Krissana cluster would require investment in a new
wellhead platform tied back to the Manora platform where the oil would be processed and stored on
the existing FSO. The assessment of the chance of discovery and the chance of development
associated with the Prospective Resources is tabulated below.
Each prospect has multiple stacked reservoir objectives with largely independent geological risks. This
independence, when consolidated, drives the high geological success rates and is supported by the high
quality 3D seismic data and proven petroleum system in close proximity to Manora. The Development
Probability of Success (POS) is the probability of achieving the minimum economic pool size for development
to be economically viable.
These are shown above on a stand-alone basis for each prospect and do not incorporate the contribution
one could have to a clustered development such as Yothaka-Krissana, for example. The US$1.72 million
pretax dry hole budgeted cost for 3 exploration wells was considered reasonable in light of Tap’s
cash position. However, success would be material given the combined P50 success case of 1.1
MMSTB for a program of 3 exploration wells, given Tap’s 1P Reserves at 31 December 2018. The
contingent Yothaka appraisal well was designed to accelerate the development of exploration
success and realise the synergies of existing Manora Oil Field production.'

NewBase October 31 – 2019 Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE
Oil prices rise as investors put hopes on China stimulus
Reuters + NewBase
Oil prices rose on Thursday as investors banked on more economic stimulus by China after weak
PMI data, partly recovering from losses in the previous session on a surprise build in U.S. crude
stocks.
Brent crude futures were up 20 cents, or 0.33%, at $60.81 a barrel by 0617 GMT, having fallen
earlier in the session. They dropped by 1.6% on Wednesday.
U.S. West Texas Intermediate (WTI) crude futures were up by 10 cents, 0.2%, at $55.16 a barrel.
They ended 0.9% lower the previous session.
Factory activity in China shrank for a sixth straight month in October, while growth in China’s
services sector activity slowed to the lowest since February 2016, official data showed on Thursday.
Oil price special
coverage

“The move up in oil is driven by the expectation that more China stimulus is now on the way after
the six-month low in the China manufacturing PMI,” said Jeffrey Halley, senior market analyst at
OANDA.
“The kneejerk response .... was to sell commodities and energy, but central banks globally have
itchy trigger fingers at the moment with regards to easing and I believe China will be no different,”
he said.
The U.S. Federal Reserve on Wednesday cut interest rates for a third time this year with the Fed’s
stance vouching for the durability of an economic expansion that is now the longest on record.
Rate cuts can often be bullish for oil prices because a stronger economy typically implies higher
demand for crude.
Still, prices are likely to be capped until inventories start to show sustained declines.
Crude inventories rose 5.7 million barrels in the week to Oct. 25, the U.S. Energy Information
Administration said on Wednesday, compared with analysts’ expectations for a 494,000-barrel build.
On Tuesday, the American Petroleum Institute, an industry group, had reported a 708,000-barrel
decline in inventories, raising hopes that official figures would also show a drop.
Crude stocks at the Cushing, Oklahoma, delivery hub for U.S. crude futures rose for a fourth straight
week, gaining 1.6 million barrels last week, the EIA said.
But gasoline and distillate inventories extended their declines even as refiners ramped up
production, it said

NewBase Special Coverage
News Agencies News Release Oct. 31-2019
Southeast Asia Energy Outlook 2019
Comprehensive review of a region on the rise
The growing weight of Southeast Asia
Any assessment of the outlook for global energy has to reckon with the growing weight of Southeast
Asia. Home to nearly one-in-ten of the world’s population, the rapidly growing economies of the
region are shaping many aspects of the global economic and energy outlook.
Southeast Asia is a very diverse and dynamic region, but one common element is that policy makers
across different countries have been intensifying their efforts to ensure a secure, affordable and
more sustainable pathway for the energy sector. This includes action to facilitate investment in fuel
and power supply and infrastructure, while focusing also on efficiency. The potential benefits of a
well-managed expansion of the region’s energy system, in terms of improved welfare and quality of
life for its citizens, are huge.
There are encouraging indications in many areas, but also some warning signs. Rising fuel demand,
especially for oil, has far outpaced production from within the region. Southeast Asia as a whole is
now on the verge of becoming a net importer of fossil fuels for the first time.
Southeast Asia's growing economic and energy role

At the same time, Southeast Asia is well on the way to achieving universal access to electricity by
2030. Millions of new consumers have gained access to electricity since 2000, yet some 45 million
people in the region are still without it today and many more continue to rely on solid biomass as a
cooking fuel.
Southeast Asia’s growth in electricity demand, at an average of 6% per year, has been among the
fastest in the world, but a number of power systems in the region are facing significant financial
strains.
Since 2000, overall energy demand has grown by more than 80% and the lion’s share of this growth
has been met by a doubling in fossil fuel use. Oil is the largest element in the regional energy mix
and coal – largely for power generation – has been the fastest growing. This has underpinned the
region’s development and industrial growth, but has also made air pollution a major risk to public
health and driven up energy-related carbon dioxide (CO2) emissions.
Southeast Asia has considerable potential for renewable energy, but (excluding the traditional use
of solid biomass) it currently meets only around 15% of the region’s energy demand. Hydropower
output has quadrupled since 2000 and the modern use of bioenergy in heating and transport has
also increased rapidly. Despite falling costs, the contribution of solar photovoltaics (PV) and wind
remains small, though some markets are now putting in place frameworks to better support their
deployment.
Driven by rising incomes, industrialisation and urbanisation
In the Stated Policies Scenario, which
explores the implications of
announced policy targets as well as
existing energy policies, Southeast
Asia’s overall energy demand grows
by 60% to 2040. The region’s
economy more than doubles in size
over this period, and a rise of 120
million in the population is
concentrated in urban areas.
The projected rate of energy demand
growth is lower than that of the past
two decades, reflecting a structural
economic shift towards less energy
intensive manufacturing and services
sectors, as well as greater efficiency.
Nonetheless, it still represents some
12% of the projected rise in global
energy use to 2040.
All fuels and technologies play a part
in meeting the growth in demand in
this scenario. Southeast Asia’s oil
demand surpasses 9 million barrels
per day (mb/d) by 2040, up from just
above 6.5 mb/d today.

Oil continues to dominate road transport demand, despite an increase in consumption of biofuels.
Electrification of mobility, with the partial exception of two and three wheelers, makes only limited
inroads. This pathway suggests little change in Southeast Asia from today’s congested roads and
poor urban air quality.
Southeast Asia is one of a few regions where the share of coal in the power mix increased in 2018
and, based on today’s policy settings, coal demand is projected to rise steadily over the coming
decades. This is largely to fuel new and increasingly efficient coal-fired power plants, although the
headwinds facing these projects are growing – including increasing difficulty to secure competitive
financing for new coal facilities.
Natural gas faces competing pressures in Southeast Asia. It appears to be a good fit for the needs
of the region’s fast-growing cities and lighter industries, as well as (in the form of liquefied natural
gas [LNG]) a way to displace costly oil use in some island communities. However, increasing
reliance on imports makes the fuel less price-competitive. In our projections, it is industrial
consumers rather than power plants that are the largest source of growth in gas demand.
In the Stated Policies Scenario, the share of renewables in power generation rises from 24% today
(18% of which is hydropower) to 30% by 2040, but this still lags far behind the levels reached in
China, India and some other economies in Asia. Wind and solar are set to grow rapidly from today’s
low levels, while hydropower and modern bioenergy – including biofuels, biomass, biogas and
bioenergy derived from other waste products – remain the mainstays of Southeast Asia’s renewable
energy portfolio.
Heading for rising energy import bills...
The pathway that Southeast Asia is on includes the realisation of some major energy policy goals,
including the vital task of ensuring universal electricity access and some progress with diversification
of the energy mix.
Yet our Stated Policies Scenario also highlight some major potential risks. A widening gap between
indigenous production and the region’s projected oil and gas needs results in a ballooning energy
trade deficit. By 2040, Southeast Asia is projected to register a net deficit in payments for energy
trade of over $300 billion per year, almost entirely due to imports of oil. This would also imply growing
strains on government budgets, especially if subsidy policies remain in place that shield consumers
from paying market-based energy prices.
The large increase in imports also raises energy security concerns. In the case of oil, the region’s
overall dependence on imports exceeds 80% in 2040, up from 65% today.

... and rising emissions
The consequences of energy-related air pollution on human health remain severe. The number of
annual premature deaths associated with outdoor and household air pollution in Southeast Asia
rises to more than 650 000 by 2040, up from an estimated 450 000 in 2018. Some 175 million
people across the region still remain dependent on the traditional use of solid biomass for cooking
in 2040.
The projected increase in fossil fuel consumption, particularly the continued rise in coal demand, is
felt in a two-thirds rise in CO2 emissions to almost 2.4 gigatonnes (Gt) in 2040. In most other parts
of the world, the power sector’s share of total energy-related emissions falls to 2040 even as
electricity expands its role in final consumption. However, the relatively high carbon intensity of an
expanding generation fleet in Southeast Asia means that the region’s power sector is responsible
for just under half of CO2 emissions in 2040, up from 42% today.
The future is electrifying in Southeast Asia
Southeast Asia’s electricity sector is in a very dynamic phase of development, both for supply and
demand.
Relatively low generation costs and indigenous supply have traditionally given coal a prominent
place in power sector planning. This is maintained in the Stated Policies Scenario – our measured
assessment of planned additions means that the share of coal-fired generation in the region’s power
mix remains broadly flat at near 40% over the next two decades, Natural gas-fired plants, based on
domestic supply as well as imported liquefied natural gas are also set to maintain a strong foothold
in Southeast Asia.
However, the declining costs of renewables and concerns over emissions and pollution are starting
to alter the balance of future additions to the power mix. Recent revisions to policy planning
documents have tended to boost the long-term share of renewables, typically at the expense of
coal.
Moreover, a switch is visible in near-term project developments, with a significant slowdown in
decisions to move ahead with new coal-fired capacity and a rise in additions of solar and wind. In
the first half of 2019, approvals of new coal-fired capacity were exceeded by capacity additions of
solar PV for the first time.

On the demand side, electricity consumption in Southeast Asia doubles to 2040; the annual growth
rate of nearly 4% is twice as fast as the rest of the world. The share of electricity in final energy
consumption is 18% today but this rises rapidly to 26% in 2040 and reaches the global average.
Space cooling is one of the fastest growing uses of electricity to 2040, propelled higher by rising
incomes and high cooling needs. For the moment, less than 20% of households across the region
have air conditioning: in Indonesia, the most populous ASEAN country, around 10% do. In our
projections, appliance ownership and cooling demand skyrocket, not only raising overall electricity
demand but accentuating strains on power systems as the share of cooling in peak power demand
rises towards 30%.
There are real opportunities for efficiency policies to reduce some of these projected strains: our
detailed market analysis shows that the average efficiency of air conditioning units sold today is well
below the global average, even though much more efficient units, including those manufactured
locally, are available at comparable cost. Enhanced efforts to improve building and equipment
efficiency (as in the Sustainable Development Scenario) would be sufficient to reduce the growth in
cooling demand in 2040 by around half (read more in The Future of Cooling in Southeast Asia).
Energy investment
Whichever pathway the region takes, meeting Southeast Asia’s energy needs and policy priorities
will require higher levels of investment. The need to step up investment is particularly acute in the
power sector. Today’s investment levels fall well short of the projected needs in the Stated Policies
Scenario and are more than 50% lower than what would be required in the Sustainable
Development Scenario.
Mobilising investment requires broad participation from the private sector, as well as the targeted
use of public funds. Public sources have thus far played a very important role in financing thermal
power plant projects and large-scale renewables (such as hydropower or geothermal) with sizeable
upfront capital needs. By contrast, wind and solar PV projects have relied much more on private
finance, spurred by specific policy incentives.

There is a critical need in Southeast Asia to attract additional private sources of capital. This would
require governments to address the risks that affect the bankability of projects; we highlight four
priority areas for action:
 enhancing the financial sustainability of utilities;
 improving procurement frameworks and contracting mechanisms, especially for renewables;
 creating a supportive financial system that brings in a range of financing sources
 promoting integrated approaches that take the demand-side into account.
The types of investment that go ahead will also depend on the extent of regional cooperation and
integration, especially progress with the ASEAN Power Grid – an ambitious project to interconnect
the power systems in the region and establish multilateral power trading.
Regional power system integration is vital to facilitate growth in renewable sources of generation,
in particular from wind and solar PV. Integration allows access to a larger and more diverse pool of
flexible resources on the supply side (from sources such as hydro or gas-fired power) as well as the
demand side. Interconnecting with neighbouring grids also reduces the system variability of wind
and solar output, which is smoother when individual plants are aggregated over larger geographic
areas.
Our detailed case study shows that multilateral power trading and an expansion of cross-border
transmission bring major cost savings in building and operating the region’s power systems. They
also bring significant environmental gains when they accompany and enable an expansion of
renewables-based power.
Crucial choices ahead for Southeast Asia
This World Energy Outlook special report does not provide a forecast of what will happen in
Southeast Asia’s energy sector. Our aim is rather to provide a set of scenarios that explore different
possible futures and the actions or inactions that bring them about.
Moving towards the Sustainable Development Scenario for Southeast Asia would require concerted
action across all parts of the energy sector, deploying multiple technologies and approaches. There

are no simple solutions, but energy transitions in other parts of the world offer valuable guidance as
well as making the various policy and technology options more affordable.
Initiatives from individuals, civil society, companies and investors can all make a difference, but the
greatest capacity to shape Southeast Asia’s energy destiny lies with governments. We highlight four
areas in particular that would be essential to move the region beyond the outcomes in the Stated
Policies Scenario:
Scaling up the deployment of renewables
This is the largest single element of Southeast Asia’s transition (in contrast to other parts of the
world, where ‘stated policies’ are already more favourable towards renewables). In the Sustainable
Development Scenario, the share of renewables in power generation almost triples from today’s
level by 2040, reaching 70%. Inside and outside the power sector, Southeast Asia has large
potential for the sustainable use of modern bioenergy, both in terms of today’s technologies and in
the development of advanced biofuels to improve the sustainability of the transport sector.
A major focus on improving energy efficiency
This is not only a pillar of sustainable energy use but also eases energy security concerns by curbing
import growth, while keeping consumer energy bills in check. Efficiency plays a role across all
sectors, but is especially important in fast-growing sectors such as cooling and road transport.
Getting prices right by phasing out fossil fuel subsidies
Southeast Asia has made progress on reducing fossil fuel consumption subsidies, but this process
is not complete. Seeing it through is essential to spur more sustainable energy consumption and
investment decisions.
Tackling the legacy issues, tarting with the least-efficient coal plants
Among the policy options, carbon capture, utilisation and storage is a vital technology to reduce
emissions from the power sector and from industry.

NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
The Editor :”Khaled Al Awadi” Your partner in Energy Services
NewBase energy news is produced daily (Sunday to Thursday) and
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For additional free subscription emails please contact Hawk
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Khaled Malallah Al Awadi,
Energy Consultant
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME member since 1995
Hawk Energy member 2010
www.linkedin.com/in/khaled-al-awadi-38b995b
Mobile: +971504822502
khdmohd@hawkenergy.net or khdmohd@hotmail.com
Khaled Al Awadi is a UAE National with a total of 28 years of experience in
the Oil & Gas sector. Currently working as Technical Affairs Specialist for
Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy
consultation for the GCC area via Hawk Energy Service as a UAE operations
base , Most of the experience were spent as the Gas Operations Manager in
Emarat , responsible for Emarat Gas Pipeline Network Facility & gas
compressor stations . Through the years, he has developed great experiences
in the designing & constructing of gas pipelines, gas metering & regulating
stations and in the engineering of supply routes. Many years were spent
drafting, & compiling gas transportation, operation & maintenance agreements along with many
MOUs for the local authorities. He has become a reference for many of the Oil & Gas Conferences
held in the UAE and Energy program broadcasted internationally, via GCC leading satellite
Channels.
NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE
NewBase 2019 K. Al Awadi

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