dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Lah!
  • Technology

Four Key Takeaways From The SIEW Energy Insights Sessions

  • October 31, 2019
Total
0
Shares
0
0
0

Four Key Takeaways from the SIEW Energy Insights Sessions.

Oil Demand Could Peak as Early As 2020

With growth in GDP globally at around 3.6 per cent per year, oil demand has increased and crossed the milestone of an average 100 million barrels a day. However, growth in oil demand is slowing with the shift to electrification for transportation, renewable energy and growing societal awareness for sustainability, such as using recyclable resources and non-oil-based products. Randolph Bell, Director, Atlantic Council Global Energy Center, shares that based on the forecasting models that his organisation has developed, oil demand could peak as early as 2020 or as late as 2040, before gradually decreasing.

Hydrogen to Play A Bigger Part as The Energy Landscape Transforms

Keisuke Sadamori, Director, Energy Markets and Security of IEA, said: “Hydrogen can be cost-effective in the future even with fossil fuels.” Hydrogen can help overcome many difficult energy challenges faced today:

  • Integrate more renewables as an energy storage medium;
  • Decarbonise “hard to abate” sectors such as steel, chemicals, ships and planes;
  • Boost energy security.  Declining cost of solar PV and wind makes them a low-cost source for hydrogen production with production costs as low as US$1.60 per kilogram of hydrogen.

Managing the Energy Transition

Masaomi Koyama shared the importance of energy transitions that realise the “3E+S” concept – Energy Security, Economic Efficiency and Environment without compromising Safety – as we transform our energy systems.

This was agreed upon at the G20 Karuizawa Ministerial Meeting in June 2019. Mr Masaomi Koyama also emphasised the value of international cooperation and innovation as key enablers for energy transition.

More can be done for energy conservation such as making the energy consumption efficiencies of industries and products more visible, enhancing the efficiencies of thermal power generation and developing a natural gas market.

Business Models Needs to Evolve along with Energy Transformation

Nawaz Peerbocus, Director, Energy Transitions and Electric Power, at King Abdullah Petroluem Studies and Research Center (KAPSARC), shared that the future of electricity markets will need to transform as the grid changes. He added that, “a new business model has to be designed for consumers based on their willingness to pay and risk tolerances.”

Research has suggested that this can be achieved by the creation of an energy insurance market where utilities charge a fixed fee for guaranteed services instead of using kilowatt hours.

 

Source: SIEW 2019

 


ABOUT SINGAPORE INTERNATIONAL ENERGY WEEK (SIEW) 2019

The Singapore International Energy Week (SIEW) is an annual platform for energy professionals, policymakers and commentators to share best practices and solutions within the global energy space.

First held in 2008, SIEW is organised by the Singapore Energy Market Authority (EMA), a statutory board under the Ministry of Trade and Industry. Our main goals are to ensure a reliable and secure energy supply, promote effective competition in the energy market and develop a dynamic energy sector in Singapore.

The theme for the 12th annual SIEW is, “Accelerating Energy Transformation” which calls on global energy stakeholders to collaborate and accelerate efforts towards a more sustainable energy future. This is important given rapidly expanding energy demand, especially in Asia, and the increased electrification of transportation, industries and buildings. At the same time, there continue to be concerns over meeting climate change commitments, even as renewable energy investments hit record highs.

Anchor events at SIEW include the SIEW Opening Keynote (SOK) and Singapore Energy Summit (SES) which feature high-level keynotes and panel discussions around this year’s theme. Other key events include the Singapore-IEA Forum, SIEW Energy Insights, SIEW Thinktank Roundtables and In Dialogue with Youth. SIEW partner events, the Asia Clean Energy Summit, Asian Downstream Summit, and Gas Asia Summit provide an opportunity to focus in on industry-specific topics.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • Energy
  • SIEW
  • Singapore
majulah

Previous Article
  • Science

Will We Ever Cure Cancer?

  • October 31, 2019
View Post
Next Article
  • Lah!
  • Technology

Energy Grid 2.0 In Singapore: : Enabling the Grid of Tomorrow

  • November 1, 2019
View Post
You May Also Like
oracle-ibm
View Post
  • Artificial Intelligence
  • Technology

IBM and Oracle Expand Partnership to Advance Agentic AI and Hybrid Cloud

  • Dean Marc
  • May 6, 2025
View Post
  • Software
  • Technology

Canonical Releases Ubuntu 25.04 Plucky Puffin

  • Dean Marc
  • April 17, 2025
View Post
  • Artificial Intelligence
  • Technology

Tokyo Electron and IBM Renew Collaboration for Advanced Semiconductor Technology

  • Dean Marc
  • April 2, 2025
View Post
  • Lah!

Tariffs, Trump, and Other Things That Start With T – They’re Not The Problem, It’s How We Use Them

  • John Francis
  • March 25, 2025
View Post
  • Artificial Intelligence
  • Technology

IBM contributes key open-source projects to Linux Foundation to advance AI community participation

  • dotlah.com
  • March 22, 2025
View Post
  • Artificial Intelligence
  • Technology

Mitsubishi Motors Canada Launches AI-Powered “Intelligent Companion” to Transform the 2025 Outlander Buying Experience

  • Dean Marc
  • March 10, 2025
View Post
  • Lah!

Canonical announces 12 year Kubernetes LTS

  • John Francis
  • March 4, 2025
View Post
  • Technology

New Meta for Education Offering is Now Generally Available

  • Dean Marc
  • February 26, 2025


Trending
  • 1
    • Technology
    Personal Data Protection Commission Introduces Three Initiatives To Strengthen Accountability Among Organisations & Encourage Data Innovation
    • May 27, 2019
  • road cars 2
    • Cities
    3 Proven Urban Designing Principles That Enhance Road Safety
    • December 7, 2020
  • 3
    • Lah!
    Asia Leads The Cashless Revolution
    • February 3, 2020
  • 4
    • Cities
    • Lah!
    • Society
    NUS Computing Establishes Sea Olympiad Scholarship To Attract And Nurture Top Talents In Computer Studies
    • February 27, 2022
  • 5
    • Lah!
    MoneySense Launches Campaign To Promote Financial Resilience Amid COVID-19 Challenges
    • October 5, 2021
  • 6
    • Cities
    WHO Declares Global Health Emergency Over Coronavirus: 4 Questions Answered
    • February 1, 2020
  • job application 7
    • Features
    • People
    How To Address A Difficult Past When Applying For A Job
    • December 15, 2020
  • 8
    • Technology
    Carbon-Neutral Fuel Made From Sunlight And Air
    • July 8, 2019
  • 9
    • Technology
    SingHealth and SGInnovate Partner To Advance Health Science Innovations And Further Deep Tech Adoption In Healthcare
    • November 14, 2021
  • putin-hitler-markus-spiske-MXX1-_jNOu4-unsplash 10
    • Cities
    How Far Does Putin’s Imperial Dream Stretch?
    • June 11, 2022
  • mpa-singapore 11
    • Cities
    Joint Release By EDB, ESG, MPA And MOH: Measures Taken To Safeguard Health And Safety of Shore-Based Personnel In Maritime Sector
    • January 5, 2021
  • goswifties_prelude-lightning-sketch_20240518_wm 12
    • Featured
    GoSwifties, Beneath And Beyond Celebrity, A Delayed Prelude.
    • May 21, 2024
Trending
  • 1
    The Summer Adventures : Hiking and Nature Walks Essentials
    • June 3, 2025
  • 2
    Trump’s global trade plans are in disarray, after a US court ruling on ‘Liberation Day’ tariffs
    • May 29, 2025
  • 3
    315,000 Singaporeans have used new career and skills planning tool by SkillsFuture Singapore
    • May 23, 2025
  • college-of-cardinals-2025 4
    The Definitive Who’s Who of the 2025 Papal Conclave
    • May 8, 2025
  • conclave-poster-black-smoke 5
    The World Is Revalidating Itself
    • May 7, 2025
  • oracle-ibm 6
    IBM and Oracle Expand Partnership to Advance Agentic AI and Hybrid Cloud
    • May 6, 2025
  • 7
    Conclave: How A New Pope Is Chosen
    • April 25, 2025
  • 8
    Canonical Releases Ubuntu 25.04 Plucky Puffin
    • April 17, 2025
  • 9
    Mathematicians uncover the logic behind how people walk in crowds
    • April 3, 2025
  • 10
    Tokyo Electron and IBM Renew Collaboration for Advanced Semiconductor Technology
    • April 2, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.