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(Download PDF) Energy Relations and Policy Making in Asia 1St Edition Leo Lester Eds Online Ebook All Chapter PDF
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Energy demand and North East Asia are unequivocally connected. Over the
course of the last decade, the rise of China has been a particularly impor-
tant driver of global energy demand—for oil, coal, nuclear, natural gas, and
renewable energy. At the same time, the current slump in oil and natural gas
prices provides a gentle reminder that sky in fact is not the limit, and slowing
demand growth, again particularly in China, forms one of the chief reasons
for today’s oversupply. Still, forecasts of institutions like the International
Energy Agency suggest that in the coming decades a very significant share
of global energy demand growth will come from Asia, even though many
important questions remain unanswered as to the accuracy of long-term
demand forecasts. By all measures, North East Asia (NEA)—China, Japan,
Korea, and Taiwan—will play an important role in that trend, China because
of its state of economic development and the rest because they are advanced
economies that are almost entirely import dependent.
Given their massive and low-cost proven reserves of fossil fuels, in particular
oil and natural gas, members of the Gulf Cooperation Council (GCC)—
Saudi Arabia, Qatar, United Arab Emirates, Oman, Kuwait, and Bahrain—
play a key role in meeting aforementioned energy demand. Increased energy
trade between the GCC and NEA has been stimulated further over the last
ten years by US development of large-scale extraction of oil and natural gas
from shale rock. This development has fundamentally altered the energy
balance of the world’s largest energy consumer, with ripple effects around
the world. The US Energy Information Administration (EIA) projects that
from 2016 onward, the US will become a net exporter of natural gas. It
also notes that from 2008 to 2014, the country’s production of crude oil
vii
viii FOREWORD
rose by over 4 million barrels per day, reaching over 9 million barrels per
day in the spring of 2015. Even though the current price slump puts tre-
mendous pressure on US producers and may lead to a production decline
of as much as 1 million barrels per day through 2017, by all measures these
events are extraordinary and have shattered conventional wisdom about
global energy markets.
Analysts and policy-makers will be grappling with the long-term conse-
quences of these shifts for many years to come. For one, as countries in the
GCC are increasingly eyeing NEA as a key market for energy exports, how
does that affect mutual relations among the countries involved? As energy
trade between these two regions increases, does their mode of cooperation
move beyond what has historically been merely a transactional relation-
ship? This book contains an exploration of questions such as these. In
order to address the implications of these projected new energy flows and
relationships, the King Abdullah Petroleum Studies and Research Center
(KAPSARC) over the course of 2015 brought together a wide range of
talented scholars from various research institutes and universities from
both regions. These scholars wrote papers that were debated among peers
in a number of workshops held in Hong Kong, Bahrain, Tokyo, Riyadh,
and Beijing.
The result is the book that you have in hand. It provides a rich and
detailed account and characterization of existing energy relations between
various members of the GCC and countries from NEA. In doing so, it is a
valuable contribution to the literature on mutual trade, domestic policies,
energy security, and environmental considerations. The book contains a
wide variety of case studies, ranging from increasing oil trade between the
GCC and China, joint stockpiling, ramping up solar capacity in Qatar, and
increasing energy efficiency. As such, this book provides a comprehensive
overview of the interconnectedness between the members of the GCC
and the countries in NEA. In addition, the studies demonstrate that there
is substantial room for further trade enhancement. Some of these oppor-
tunities are being debated actively, such as energy subsidy reform in the
GCC, which would increase opportunities for exports of hydrocarbons
while providing opportunities for NEA countries to market energy effi-
ciency technologies in the GCC.
For policy-makers, each chapter begins with a brief summary and ends
with a clear set of policy insights that could help those involved promote
and optimize energy trade while removing trade barriers. What the long-
term consequences of these actions will be, and whether current relations
FOREWORD ix
will move beyond the economic realm to include political and strategic
issues, should be a topic of further research. This book lays the ground-
work for that research and makes a valuable contribution to discussions on
energy trade between the GCC and NEA.
1 Introduction 1
Duc Huynh and Yugo Nakamura
xi
xii CONTENTS
16 Conclusion 305
Leo Lester
Index 311
CONTRIBUTING AUTHORS
Author names have been shown in the Western style (given name before family name)
throughout for the avoidance of confusion for English-language readers.
Ahmed Kiani is currently a Post-Doctoral Associate in Department of Engineering
at New York University, United Arab Emirates. Previously, he worked as a Post-
Doctoral Researcher in Engineering System and Management at Masdar Institute of
Science and Technology, United Arab Emirates. He received a Bachelor of Engineering
in Electrical Engineering from McGill University, Canada, in 2007. He earned his
Master of Science in Nanotechnology from University College London, United
Kingdom, in 2008 and a Doctorate of Philosophy in Electrical & Electronic
Engineering from University of Cambridge, United Kingdom, in 2014. Dr. Kiani has
previously served as head of renewable energy consulting in UAE/Pakistan and as an
investment banker in London, United Kingdom.
Antonio P. Sanfilippo is Research Director for Measurement Science and Analytics
in the Qatar Environment and Energy Research Institute, Hamad Bin Khalifa
University. His current research focus is on solar resources and smart grid integra-
tion. From 2003 to 2014, Dr. Sanfilippo was Chief Scientist at the Pacific
Northwest National Laboratory in the USA, where he directed a four-year research
programme on predictive analytics and led research projects funded by the
Department of Homeland Security, the National Institutes of Health, and the
National Science Foundation. Dr. Sanfilippo has MA and MPhil degrees in
Anthropological Linguistics from Columbia University in the USA and a PhD in
Cognitive Science from the University of Edinburgh in the UK.
Brian Efird, joined KAPSARC in 2013, where he is a Senior Research Fellow and
the Programme Director for the Human Geography of Energy. He is responsible for
managing a research programme that comprises a multi-disciplinary, multi-national
xv
xvi CONTRIBUTING AUTHORS
Kexi Pan is a Professor and Vice Director of Fudan University Energy Research
Center. He has been committed to coal industry policy and technology for more than
thirty years, especially the accounting and analysis of basic coal data for China. He also
led many national and several provincial energy strategy planning and policy research.
Larry R. Pederson currently serves as Research Director for Energy Security at the
Qatar Environment and Energy Research Institute, Hamad Bin Khalifa University,
focusing on topics in photovoltaics, energy storage, and grid integration. Prior to
joining QEERI, Pederson held the position of Laboratory Fellow at Pacific
Northwest National Laboratory in Richland, Washington, USA, where he was
employed from 1978 to 2009 and from 2012 to 2014. While at PNNL, Pederson
has served as past Directors of the Materials Science and Engineering Division and
of the High-Temperature Electrochemistry Center. Pederson received his PhD in
physical and surface chemistry from the University of Wisconsin-Milwaukee.
Nader AlKathiri is a Research Associate at KAPSARC. His current work focuses
on understanding inter-regional price differentials of crude oil through spatial
modeling. He recently co-developed the KAPSARC Global Oil Trade Model
(GOTM), a spatial simulation model of the crude oil market. Nader holds a BSc in
Operations Research from King Saud University and an MS in Applied Mathematics
and Computational Science from KAUST.
Omar Al-Ubaydli is the Programme Director for International and Geo-Political
Studies at the Bahrain Center for Strategic, International and Energy Studies
(DERASAT), an affiliated Associate Professor of economics at George Mason
University, and an affiliated Senior Research Fellow at the Mercatus Center.
Al-Ubaydli previously served as a member of the Commonwealth of Virginia’s
Joint Advisory Board of Economists and a Visiting Professor of Economics at the
University of Chicago. He earned his BA in economics from the University of
Cambridge and his MA and PhD in economics from the University of Chicago.
Po-yao Kuo is currently the section manager of the Energy Technology
Development Center at the CTCI Foundation, Taiwan. Before working at the
CTCI Foundation, he was an assistant research fellow of the Second Research
Division, Chung-Hua Institution for Economic Research. Dr. Kuo’s research
interests include energy policies, energy trends, energy security, policies, and tech-
nology assessment for energy saving and greenhouse gas emission reduction, elec-
tricity generation and emissions, vehicle energy use and emissions, and vehicle
life-cycle analysis.
Qiang Ji is an associate professor at the Center for Energy and Environmental
Policy research, Institute of Policy and Management, Chinese Academy of Sciences.
His research fields include energy security strategy management, energy economics,
and international energy trade. He has carried out and been involved in over 10
research projects and has published over 30 papers in peer-reviewed journals.
xviii CONTRIBUTING AUTHORS
Sang Yoon Shin is an associate research fellow of Korea Energy Economics Institute.
His recent research includes “National Network through International Energy
Organizations,” “Oil Emergency Response Policy of Major Importing Countries
and Implications,” and “Cooperative Network of Oil Companies in East Asia.” He
is geographically interested in the Middle East and Central Asia. He received his
PhD degree from the Katz Graduate School of Business, University of Pittsburgh.
Shahad Al-Arenan is a Research Analyst with KAPSARC. She holds a BSc in
Electrical and Computer Engineering from Effat University.
Steven Griffiths is the Vice President for Research and a Professor of Practice at
Masdar Institute of Science and Technology. Dr. Griffiths has overall responsibility
for research, including large-scale, collaborative research programmes and centres,
research development, sponsored programmes, technology transfer, and research
laboratories. Additionally, Dr. Griffiths has an active role in multiple industry,
research, and innovation bodies outside of Masdar Institute, including the Middle
East Solar Industry Association Board of Directors and the Zayed Future Energy
Prize Selection Committee. Dr. Griffiths holds a Doctor of Philosophy in Chemical
Engineering from Massachusetts Institute of Technology (MIT) and an MBA
from the MIT Sloan School of Management.
Steven Wright is an Associate Professor of International Relations and Gulf
Studies at Qatar University. His areas of research focus on the comparative politics
and international relations of the Persian Gulf states, energy security, and US for-
eign policy toward the Middle East. Dr. Wright completed his education in the
United Kingdom, graduating from the University of London, and also Durham
University where he completed his doctorate. Dr. Wright has held research fellow-
ships at the London School of Economics, Exeter University, and also University
of Durham. He was elected a Fellow of the Royal Asiatic Society of the United
Kingdom.
Taoya Li is a director in the International Division of the State Information
Center. She graduated from the University of International Business and
Economics of China with a Master’s degree in Arts. Her research focus is interna-
tional trade, public policy, and urban planning. She is also a coordinator and one
of the authors in research projects with the World Bank and OECD on innovation
and investment climate.
Tianyi Li is currently a junior student in School of Economics, Renmin University
of China. She is studying for dual degrees in economics and mathematics. She has
participated in several international academic exchange seminars, including one in
Doshisha University in Japan. Li also actively participates in academic competi-
tions and has achieved many awards, including innovation and entrepreneurship
practice of college students, mathematical modeling contest, undergraduate aca-
demic forum, the national energy Internet challenge match, and so on.
xx CONTRIBUTING AUTHORS
Overseas equity barrels are still foreign oil and still must be transported
home, although most is sold on the open market.
The recent softening of crude prices and the industry’s perception that
prices will be ‘lower for longer’ due to an oversupplied market, may ame-
liorate some of NEA’s energy security concerns, at least while the current
price environment persists. But NEA’s political mandate to address energy
security is not likely to go away. Japan, South Korea, and Taiwan will
likely seek to expand their ownership of foreign equity resources. Japan,
for example, aims to achieve a minimum ‘equity production-import ratio’
of 40 percent by 2030 and offers financial support to Japanese upstream
companies, irrespective of geographic location. At present, GCC coun-
tries present a difficult environment for the joint ventures and investments
needed to secure equity barrels. Those countries that do allow foreign
equity are clearly investment priorities for NEA, though still not without
their challenges.
Zeila, 153
Zifta Barrage, 87, 88
Zubehr, 150, 152, 155, 157, 163
THE END
(Large-size)
London: Edward Arnold.
FOOTNOTES:
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