Since sanctions by the United States (US) and European Union (EU) were lifted, Myanmar has enjoyed relatively strong economic growth. According to the Economist Intelligence Unit (EIU), Myanmar’s economy has grown at an average of 7.5 percent between 2012 and 2017.

The oil and gas industry has seen turbulent times over the last 10 years, with the 2008 financial crisis as a turning point for the industry as a whole. Oil prices peaked at US$145 per barrel during that period, declining by more than 70 percent by the end of the year to US$40 per barrel.

Ever since Myanmar undertook a series of political, economic and administrative reforms in 2011, the country’s economy has steadily improved. According to data from the Asian Development Bank (ADB), Myanmar is enjoying some of the highest growth rates in the region.

Hydropower in Southeast Asia holds much promise. According to the International Renewable Energy Agency (IRENA), hydropower capacity in the region grew almost threefold from 16 GW to 44 GW between 2000 and 2016.The major users of hydropower technology are Association of Southeast Asian Nations’ (ASEAN) members in the Indochinese region and the Philippines.

Member states of the Association of Southeast Asian Nations (ASEAN) intend to reduce regional energy intensity 20 percent by 2020 and 30 percent by 2025 compared with 2005 levels. According to the ASEAN Centre for Energy (ACE), the region is on track to reach its goals as energy intensity levels have seen a downward trajectory between 1995 and 2014. Nevertheless, future projections like these still require concentrated efforts to ensure they are realised.

In October, the United Nations (UN) released a report which highlighted that the world could be on the brink of a climate change disaster if immediate measures are not taken. Leading scientists behind the report have said that the world only has 12 years to keep global warming at a maximum of 1.5 degrees Celsius or it could face a risk of severe drought, flooding and extreme heat for millions of people. The effects of climate change have already been seen in the region.

In tandem with a renewable energy policy, energy efficiency will be key to building a reliable and sustainable energy system for the future of Southeast Asia. Energy efficiency refers to the reduced rate of energy consumption in order to produce the same amount of output.

As thousands of national, sectoral, business and community leaders gathered in Katowice, Poland, for the 24th Conference of the Parties (COP24) to the United Nations Framework Convention on Climate Change (UNFCCC), the focus heightened again on the issue of decarbonising the energy system.

Today, sustainable or renewable energy development is the talk of the town given current global circumstances. Global warming and climate change are already threatening our environment and the world is racing to mitigate these problems.This leaves the Association of Southeast Asian Nations (ASEAN) with a development dilemma. It has to contend with the fact that it is a developing region and that means growing energy demand.

Smart grids are set to take Southeast Asia by storm. According to a 2018 report by Telcoms and Computing Market Reports, the smart grid market in the region has continually grown and demonstrated significant benefits to consumers and large-scale vendors.The increasing number of people gaining access to electricity in member states of the Association of Southeast Asian Nations (ASEAN) has prompted respective governments to look into smart grids deployment.