NEW REPORT PROVIDES FIRST COMPREHENSIVE LOOK AT DYNAMIC GROWTH OF ASIA MARKET ECONOMICAL, POLITICAL DEVELOPEMENTS IMPACT WORLD'S LEADING REGIONAL ENERGY MARKET HOUSTON, Feb. 10 /PRNewswire - AsiaNet/ -- After record economic expansion, many countries in Asia are heading towards slower ecnomic growth. But the slowing will not temper the "torrid pace" of growth in energy demand, which will hit 5.7 percent in 1997. As a result, Asia is "fast becoming the world's energy investment." Through hundreds of billions of dollars in new energy investments will be required over the next several years, would-be international investors should expect harder going as " the balance of negotiating power" is shifting "to the governments' side of the table." These are among the main conclusions of the inaugural Asia Pacific Energy Watch, which Cambridge Energy Research Associates (CERA) releases today. The report provides the first-of-a-kind- intergrated perspective on the key economic, political and energy developements in the world's most dynamic region. "The center of gravity for the world energy industries is shifting towards Asia," said Dr. Daniel Yergin, CERA president and Pulitzer Prize winner for his book on the oil industry, The Prizr. "Within two years, Asian oil demand will exceed that of North America--providing the success of Asia's formidable economies. Companies are scrambling to redesigning their stratagies to lock in opportunities in markets in which the competition is getting tougher and tougher." "After a period of feverish economic growth, Asia is cooling down somewhat,: said Dr. Dennis Eklof, CERA director and co-director of Asia Pacific Energr Watch. "Most of the economies in the region are going through a period of economic readjustment. The reasons vary widely, but the end results will be lower economic growth and changes in investment flows. The most pressing question for investors is whether the slowdown is merely a pause that question is how effectively the region solves its energy and infrastructure bottlenecks." The Asia Pacific Energy Watch identifies major issues and themes for the region. including: -- Redection in the pace of economic growth,-3.9 percent in 1997 compared to 5 percent in the 1990s - because of internal problems, rising wage costs and dampening in export markets; -- Strong energy demand growth, as energy consumption enters a new phase; -- Growing competition among investors, "leading to a strengthening of governments' hand" in negotiations; and -- Regional focus, expanding beyond national boundries, forcing a new emphasis on structuring international projects. The Asia Pacific Energy Watch also contains detailed analysis and consistent data and forecasts for the key countries and subregions of Asia. The report observes that Asian countries "are shifting to more regional focuses, and energy opportunities are following that shift...Energy markets and energy projects will increasingly involve more than one country." Highlighting the new emphasis on natural gas, it adds, Natural gas -- the fuel of choice for much of Asia-- will increasingly challenge traditional fuels and cross national boundries, striving to meet the region's appetite for electric power." The Asia Pacific Energy Watch inaugurates CERA's new Asia Pacific Energy Retainer Service, which will provide independent and objective analysis on markets, strategies and politics on a continuous basis. "The growth of Asia means a new game for the world energy industries, and Asia is now the heavy hitter," said Dr. Joseph Stanislaw, CERA managing director and co-director of the Asia Pacific Energy Watch. "Present and would- be participants in the Asian markets face tough questions about which markets in which to invest, how much and when, and which projects will best meet Asia's enormous new needs. With our new Asia Pacific Retainer Service and this watch, we are committed to providing the independent assessment that is so needed, and then helping companies navigate their way through the myriad of questions." Cambridge Energy Research Associates is a leading international research and consulting firm providing independent analysis on energy markets, goepolitics, industry trends and strategy, with offices in Cambridge, Paris, Oslo, Oakland, Mexico City, Washington, D.C., Houston and Moscow. SOURCE Cambridge Energy Research AssociatesCONTACT: Sara Burr or Kimra Anderson Graves of Cambridge Energy Research Associates, 671-497-6446; or Dan D'Armond of Edelman Public Relations, 713-623-2666/