Even as the Asia‐Pacific region emerges as the new growth centre
of the world in the wake of the global economic crisis of 2008,
uncertainties over energy security overshadow its development
aspirations and prospects. The challenges of energy security are
rooted in the region’s overwhelming (80%) dependence on fossil
fuels to meet its primary energy consumption. Since most
countries of the region are net energy importers, vulnerability
to global energy market uncertainties has been a fact of life
for decades. Looking ahead, energy security will continue to
dominate policy agendas in the region during the coming decades.
It will be a key determinant of the region’s ability to maintain
high economic growth rates essential to reduce poverty and
achieve the MDGs. At the same time, concerns over the
environmental impacts of fossil fuels and their ventual
exhaustion will continue to challenge the wisdom of entrusting
the region’s evelopment prospects to such a precarious
foundation of energy security.