| Northeast Asia (NEA) and the Arabian Gulf are the two most dynamic regional economies. At the center of NEA economic growth lies China, where China is now the world's largest energy consumer. Furthermore, economic growth rates, which bear a strong correlation to energy consumption, are slated to grow not only in China, but in the other major regional economies of Japan and South Korea. The focus of the major Northeast Asian economies (China, Japan and South Korea) over the coming years will be to secure adequate and consistent supplies of energy to fuel their economic growth. In the wake of the Fukushima nuclear disaster, the importation of fossil fuels bears an even greater importance as NEA nations seek to limit their use of nuclear energy and coal to meet their growing energy demand. This presentation will examine the growing gap in NEA between energy demand and indigenous supply, and how the NEA governments seek to mitigate potential supply disruptions by reaching out to major energy exporters in the Gulf Cooperation Council. This presentation will explore how greater interaction may be facilitated between these two dynamic regions and discuss possibilities for enhanced cooperation, but will also delineate where increased competition is likely to arise. |
