Malaysian Prime Minister Anwar Ibrahim and energy sector executives pointed out that "hydrocarbons will be an important part of the energy mix in Asia, at a time when affordability and energy security remain primary concerns for the region." In his opening remarks at the Asia Energy Conference, hosted by Malaysia's state oil company Petronas, Ibrahim stated that "achieving the net-zero emissions goal should not come at the expense of economic growth or vice versa." He added, "Instead, Asia should seize every opportunity for further dialogue and action to responsibly plan to enable each country its right to development and carbon reduction aspirations."
He considered that "natural gas will play an important role in Malaysia's energy mix," as the country is one of the world's top five exporters of liquefied natural gas.
OPEC Secretary-General Haitham Al-Ghais confirmed during the conference on Monday that "OPEC expects global oil demand to increase to 110 million barrels per day by 2045 and that oil will account for 29% of energy supplies as the global economy expands and the world population reaches 9.5 billion."
Saudi Aramco CEO Amin Nasser also mentioned at the conference that the complete energy transition in the $100 trillion global economy in just a quarter-century is a "fantasy," as the growth in renewable energy sources has not kept pace with the increase in energy consumption.
