More than 2 billion people in Asia, Africa and Latin America will join the middle class over the next 20 years, driving a rapid increase in energy demand. The big growth areas - China and India - are far from new energy supplies, and it is clear that traditional sources of energy cannot meet the new demand without serious impacts on people, the environment, and the economy.
At the Chandler Corporation, we believe that investing in companies that generate clean, sustainable, and renewable energy is essential for the continued growth and prosperity of the world's largest countries.
Through Orka Energy, we are building a leading Asian geothermal company to heat and power homes and businesses in China, and the Philippines. Geothermal is a renewable and competitive source of clean energy, and will be increasingly important in a carbon conscious world. We also own Heron Energy, a provider of clean energy technology, focused on innovative solutions to renewable energy production.
Renewable sources alone however, cannot meet the rising demand for energy. Our investments in new gas resources in Papua New Guinea (InterOil Corp), and gas based energy production in Indonesia (Energy World Corp), are part of the answer. Our gas distribution business in China brings such gas to industrial users. Transitioning from coal to cleaner burning natural gas is an important step forward for these economies and the environment. Our resource developments across Asia are furthering this change.
Energy is critical to economic growth. No modern nation has prospered - or even developed - without it. Our investments in oil and gas resources in Africa (Africa Oil Corp) and the Middle East (WesternZagros Resources) have the potential to transform their local economies and improve the lives of many. Communities are a vital partner in energy production and we are committed to working with them to build safe and successful operations.
We have been a significant shareholder in the following companies: