Broken promises

Asian countries are now a power in the world’s energy markets, but governmentinterference in tariff structures and shaky sovereign guarantees mean regulatoryrisks forinvestors remain. By Maria Kielmas

Even eight years after the Asian financial crisis, its repercussions linger on for energy investors. As Asian companies become a major force in both ensuring the region’s energy security and investing in all parts of the energy industry worldwide, foreign investors remain cautious about commitments to Asia, especiallyin the electricity sector.

According to Robert Bestani, directorgeneral of the Asian Development Bank’s (ADB’s) private-sector finance department, Asia needs some US$250–

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