Asian economies have seen dramatic growth in recent decades. As a result, global energy demand has shifted to the East. But if the region's dynamic economies want to maintain their momentum, they must think hard about how to effectively meet their hunger for energy.

China is now the world's biggest energy consumer; it consumes almost half of the world's coal output and leads in the growth of renewables. India is emerging as a major economic powerhouse and, with its new leadership, holds promise to grow even faster as its population continues to expand.

To satisfy its energy demand, Asia will become more dependent on energy imports. The growing demand for and higher dependency on imported fuels is making Asia more vulnerable to fluctuating prices in the global energy market. This trend has made energy prices among the top critical uncertainties in Asia, giving sleepless nights to large energy producers and consumers, according to the World Energy Council's World Energy Issues Monitor.