Ongoing Trend For The Energy Sector Of Malaysia
Malaysia's energy demand will almost double between today and 2040, with rising contributions from all energy sources.
Fossil fuels remain dominant in Malaysia's energy mix, with its share still projected to exceed 90% by 2040, although the hierarchy changes. Coal demand increases by more than a factor of three over the projection period, overtaking both oil and gas to become the primary fuel in the country's energy mix. Oil demand is projected to rise to about 1 million barrels per day by 2040, while the growth in natural gas demand slows.
Demand for renewables more than doubles by 2040, with their share of electricity generation rising to 16%, underpinned by strong policy support.
Malaysia's role in international markets shifts as the country becomes increasingly dependent on oil and coal imports, while natural gas exports fall back.
Source: Southeast Asia Energy Outlook 2015, by International Energy Agency (IEA)