Speech Abstract

Chief Economist and Managing Director, Institute of Energy Economics, Japan (IEEJ)

Changing Global Energy Landscape and its implication to Japan, US and China

The global energy landscape is changing rapidly, and there are many uncertainties over the future of global energy market.  The major uncertainties and challenges include: volatilities in global energy prices; growing energy demand in emerging economies in Asia and accelerated competition for access to energy resources; geopolitical tensions in major energy supplier countries/region including the impact of “Arab awakening” and Iranian nuclear development; rising resource nationalism; critical need to secure large scale energy investment in a timely manner; rapidly growing unconventional oil and gas production and implications of “US energy independence”; global debate on climate change policy and its implications; energy related technology development and diffusion; impact of Fukushima nuclear accident; etc.

Under the circumstance, energy security has become an increasingly important challenge for every country, but in particular for major energy market players such as Japan, US and China.  With this recognition in mind, this presentation will first try to discuss global energy landscape as surrounding conditions for the three countries, and then try to identify energy challenges for the three countries respectively.  Finally the presentation will explore the possible area of energy cooperation for the three countries, from the viewpoints of its advantage and constraints to be overcome.