Newspaper article THE JOURNAL RECORD

Asian Energy Demand on Target for Growth

Newspaper article THE JOURNAL RECORD

Asian Energy Demand on Target for Growth

Article excerpt

HOUSTON -- Asian energy demand will continue to grow, straining and perhaps surpassing world oil producers' ability to keep up, a new report says.

Asian demand is forecast to grow 5.3 percent this year compared with 5.5 percent in 1996, according to the Asia Pacific Energy Watch report by Cambridge Energy Research Associates, an energy consulting firm.

Energy demand is expected to grow by 5.5 percent in 1998, Cambridge said. Demand for natural gas and coal will continue to grow in 1997, though not as fast as last year, and growth in oil demand will accelerate both this year and next, the report predicted. "Every player will be affected. whether they are in the Asian market or not. It is the heavy hitter," said Joseph Stanislaw, Cambridge managing director. Satisfying only the growth in Asian oil demand between now and 2010 would take the entire current production of Saudi Arabia, the world's largest producer, and the United Arab Emirates, leading Stanislaw to predict demand won't be met. …

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