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APEC ENERGYOVERVIEW
2003
DECEMBER - 2003
ASIA PACIFIC ENERGY RESEARCH CENTRE
 
 
P
AGE II
 
Prepared ByASIA PACIFIC ENERGY RESEARCH CENTRE (APERC)THE INSTITUTE OF ENERGY ECONOMICS, JAPANInui Bldg.-Kachidoki 16F, 1-13-1 Kachidoki, Chuo-ku, Tokyo 104-0054, JAPANTel: +81 (3) 5144-8551 Fax: +81 (3) 5144-8555E-mail: apercadmin@aperc.ieej.or.jpAPERC Website: http://www.ieej.or.jp/aperc/ FOR THE ASIA-PACIFIC ECONOMIC COOPERATIONSECRETARIAT35, Heng Mui Keng Terrace Singapore 119616Tel: (65) 6775 6012 Fax: (65) 6775 6013E-mail: info@mail.apecsec.org.sgWebsite: http://www.apecsec.org.sg
©
2003 APEC SecretariatAPEC#………… ISSN …………
 
 
P
AGE III
 
F
OREWORD
 
Events in the last year or so have shown that most APEC economies continue to face amultitude of energy-related challenges. War and it’s aftermath in Iraq, social unrest in Venezuelaand Nigeria have resulted in perceived tight supplies, instability and consequential high and volatileprices in world oil markets. Fortunately, production disruptions in these 3 major producingeconomies did not result in any shortages, as such. The headline electricity blackout in the USNortheast and Ontario, Canada showed that even the most developed economies were not immuneto severe and costly energy supply disruptions. For a variety of reasons, there were also actual andpotential power shortages in China, Japan and New Zealand, in the last year.For the most part, APERC and the APEC EWG and EGEDA in particular, promote andcharacterise the co-operative aspects of regional energy relationships within APEC. At times, therecan be competition on the part of energy-importing economies to secure their energy supplies atleast cost.Thus energy adequacy and security issues remain high on the agenda of member economies.Most also face challenges in respect of funding the investment required to expand energy supplyinfrastructure to either satisfy expanding demand or to replace antiquated and inadequate facilities.The environmental challenges associated with energy supply and consumption remains as relevantas ever.A broad overview of the energy situation, and developments in APEC economies is thusimportant to inform and help understand the energy status, emerging issues and policies that facemember economies.This is the third annual edition of the APEC Energy Overview. APERC has been delegatedthrough the APEC EWG for the production of the Overview. In producing the Overview,APERC draws on macroeconomic and energy data contributed by member economies and held bythe Energy Data and Modelling Center, Institute of Energy Economics, Japan. Wherever possible,data from this source has been used to ensure consistency and comparability between economies.We thank EDMC and member economies for their efforts in providing this data. Additionalinformation has been obtained from public sources. The assistance of member economies, inparticular the EWG and EGEDA delegates, have ensured that the information contained in thisOverview is pertinent and as current and accurate as possible. We gratefully acknowledge membereconomy energy experts for their co-operation in the preparation of this Overview.APERC researchers from most member economies are responsible for the compilation andpreparation of the individual economy overviews. We thank them for their efforts.Inquiries should be directed to the Asia Pacific Energy Research Centre, Institute of EnergyEconomics, Japan. Our email address is apercadmin@aperc.ieej.or.jp and the postal address is AsiaPacific Energy Research Centre, Institute of Energy Economics, Japan (IEEJ), Inui Bldg.-Kachidoki 16F, 1-13-1 Kachidoki, Chuo-ku, Tokyo 104-0054, JAPAN. Our telephone number is(+81) (3) 5144-8551 and fax number is (+81) (3) 5144-8555.Masaharu FujitomiPresident,Asia Pacific Energy Research CentreKenichi MatsuiChair,Expert Group on Energy Data and AnalysisDecember 2003
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