Fifteen years ago, China imported virtually no oil – it was self-sufficient. It is now the world’s number two oil importer. This growth is set to continue. By 2020, it is predicted that there will be more private cars on the road in China than in the United States – 140 million.

And by 2030, the International Energy Agency (IEA) forecast that

oil demand in developing Asia, including China,will exceed that of the United States and Canada, and will account for 26% of the global total.

Given such explosive growth, the role of the area’s largest oil-trading hub, Singapore, will be vital in maintaining the supply of energy to the region.

Singapore has been trading in oil for over 100 years. It is Asia’s leading hub, and the third largest oil-trading centre in the world, after New York and London.

In the week commencing 28th August 2006, CNBC Europe will be looking at Singapore and how it will be affected by the changing energy needs of the emerging Asian economies.

We will see how plans are progressing to double oil storage in

Singapore by 2008, and to build new Liquified Natural Gas (LNG) terminals. Demand for LNG is predicted to grow by at least 10% a year over the period to 2010, and this booming industry will require an extra 250 ships over the next decade. We’ll examine how Singapore, already one of the busiest shipping areas in the world, plans to cope with increased maritime traffic.

At the end of the themed week, a panel of experts will take part in a televised debate about the issues raised.

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A panel of experts meet in Singapore to discuss the economic, social and political effects of the changing energy needs of Asia’s growing economies.

They will be discussing questions such as:

• Are there limits to supply keeping pace with demand?

• What does increased Asian demand mean for the rest of the world?
• Will security of supply become a more and more important issue?
• Which economies will win or lose?

If the spectacular growth of the Asian economies is to continue to benefit the people of the region, then these are important questions for the future.

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