Banking on oil and gas

SG Corporate & Investment Banking is making a big push into the oil and gas sector in the Asia-Pacific region. Jill Wong talks to Philippe Fournier, head of oil and gas sector, Asia-Pacific, and Jeffrey Chen, head of energy risk management, Asia

Asia is starved of energy. The region consumes more than 20 million barrels of oil per day, around 50% of which is imported. And demand is expected to double over the next decade due to rapid economic growth, while oil import dependency is predicted to surge to 80% by 2030. Massive demand from China, which turned from net oil exporter to importer in 1993, has been a major contributor to soaring energy prices worldwide, while Indonesia, an Opec member, is also likely to turn from net