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If high interest rates persist, transitioning to a net zero global economy will be even harder and more costly. The higher cost of borrowing negatively affects renewables and nascent technologies, compared to more established oil and gas, and metals and mining sectors, which remain somewhat insulated.
Home to half of the world’s population and contributing a third to the global GDP, the Asia Pacific region is expected to maintain a 50% share of global primary energy demand and a 60% share of global carbon emissions until 2050. This trend is unlikely to change without strong policy action and investment. However, the region still has the potential to turn these challenges into opportunities and become a global leader in the energy transition.
Wood Mackenzie experts discussed key drivers of Asia Pacific gas markets at the Northeast Asia Gas Forum today.
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020.
New research from Wood Mackenzie indicates that the creation of a national pipeline company in China is a step in the right direction but will result in higher end-user prices in the short-term as the country tries to balance institutional reform with implementation risks.
Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie's Asia Pacific experts weigh in on what this means for the different sectors.
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