14 May 2019
According to International Energy Agency (IEA), the Association of Southeast Asian Nations (ASEAN) currently consumes 4.5 million barrels of oil per day, and over 40% of this demand is met by imports. Such oil demand is mainly driven by the transport sector, especially land transport. Importing fossil fuel not only increases insecurity of energy supply, but also burdens ASEAN’s financial and fiscal systems. GHG emissions and urban air quality issues add further to the concerns about the reliance on fossil fuel for transport.