[Factsheet] ASEAN-German Energy Programme (AGEP) Phase II

The ASEAN region is becoming one of the global growth drivers and important economic force in the world. Even after accounting for the impact of the COVID-19 pandemic, the region’s GDP is still projected to nearly triple from its 2017 figure, reaching USD 20 trillion by 2040. As reported in the 6th ASEAN Energy Outlook (AEO6) under the scenario where member states meet their national target (AMS Target Scenario, ATS), the energy demand (linked with industrialisation, economic growth and urbanisation, among others) in the region will continue to rise by 2.8% annually from 375 Mtoe in 2017 to 714 Mtoe in 2040. With more than 50% share of the demand still comes from the intensive use of fossil fuels resources such as coal, oil, and gas, emissions are expected to increase by 1.8 times, from 1,686 Mt CO2-eq in 2017 reaching 3,002 Mt CO2-eq by 2040. In addition to the economic and energy growth, energy access in ASEAN has also been growing over the years, reaching 88% of electrification rate in 2020 according to AGEP’s Country Profiles.

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