The first gathering, since the adoption of the Master Plan on ASEAN Connectivity, of ASEAN Ministers responsible for energy successfully concluded in Jerudong . It included a series of events on policy discussion, regulatory options, and business opportunities, all of which are crucial to the realisation of the ASEAN Connectivity and of an ASEAN Community by 2015. ASEAN is actively discussing a common target for the region to work towards having a higher percentage of renewable energy sources.
Hon. Pehin Dato (Dr) Mohammad Yasmin Umar, Minister of Energy of Brunei Darussalam who is Chairman of the 29th ASEAN Ministers on Energy Meeting (29th AMEM), said this is a golden opportunity for Ministers and Senior Officials from all ASEAN Member States, Dialogue Partners, international organisations, and the energy business community to join hands in accelerating the ASEAN energy connectivity.
Dr Surin Pitsuwan, Secretary-General of ASEAN, highlighted the importance of synergising the efforts of the energy sector, and harnessing the opportunities made available by external parties and business community in the implementation of the Master Plan on ASEAN Connectivity and other cross-sectoral initiatives, including the ASEAN Plus Three Comprehensive Strategy on Food Security and Bio-energy Development (APTCS-FSBD) and its Strategic Plan of Action on Food and Energy Security (SPA-FES).
“There is a need to boost infrastructural connectivity to open new market opportunities and boost overall energy security, as well as to expedite regional connectivity projects in the power, oil and gas sectors; to facilitate energy trade, investment and services; and to enhance cooperation with partners countries to promote robust East Asian energy connectivity,”
said Hon. Pehin Dato (Dr) Mohammad Yasmin Umar.
One of the projections of the ASEAN Council on Petroleum (ASCOPE) is that ASEAN is expected to emerge as a net importing region in the next five years. As such, it is necessary to have a stronger cooperation amongst ASEAN Member States and its partnership with external parties to facilitate more oil and gas trading and marketing within the region.
The two flagship energy connectivity projects of ASEAN – namely the ASEAN Power Grid (APG) and the Trans-ASEAN Gas Pipeline (TAGP) – are on a good track to help the region ensure a greater energy security of gas supply for the region. There are more opportunities, however, on the energy infrastructure projects, including infrastructure for Liquified Natural Gas (LNG) trading, and other cooperation modalities, such as extension of the TAGP Memorandum of Understanding, and development of a Gas Transit Principle Agreement in ASEAN.
ASEAN is actively discussing a common target for the region to work towards having a higher percentage of renewable energy sources and new energy technologies, such as cleaner coal technology, in the regional energy mix, including the projected targets until 2030. All these efforts are to ensure ASEAN’s continued resilience and growth in a sustainable manner to cope with the increasing energy challenges.
Many countries in Asia have a natural solar energy advantage given they are both sunny and have large areas of land unsuitable for other uses. However, large-scale solar power generation has been hampered by a lack of suitable project financing mechanisms, institutional and policy constraints, and knowledge gaps
Around 900 million people in developing Asia have no access to electricity, and many others in remote areas pay very high prices for power that is typically generated by fossil fuels.
Alibaba Initiates $3Bln Partnership with Thai Gov in Support of Thailand 4.0
This is probably the first major milestone for Thailand 4.0 economic plan to upgrade Thai economy : a major commitment of a big private investor
Bangkok retains Leading Mastercard Travel Destination Title for 2017
Travel and tourism in Asia Pacific is showing no signs of slowing down, with the region dominating visitor arrivals once again, according to the Mastercard Global Destinations Cities Index 2017
Thai GDP growth exceeds expectation in Q2/2017
EIC revised Thailand’s GDP growth forecast upward to 3.6% from 3.4% as the global economic outlook improved, supporting exports to continue recovering in the remaining time of this year.
Thailand approves COVID-19 AstraZeneca vaccine for emergency use
The first lot of 50,000 doses of COVID-19 vaccine developed by AstraZeneca will arrive in Thailand early next month, after...
Interprovincial travel in Thailand amid COVID-19 controls
The State Railway of Thailand (SRT) is suspending 57 additional train services from 26 January, 2021, as part of the...
Covid-19 puts flexible space markets under strain
In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.
Thailand to put world’s largest floating solar farm into use this June
The facility, which generates power on a water surface of 72 hectares, was originally scheduled for operation in December last...
TAT launches virtual tours to 4 top destinations in Thailand
Once inside an attraction, visitors can move around using the cursor, while some of the attractions have information about its...
Thailand’s automotive sector expected to produce 1.4m cars this year
This increase in output is a result of the recovery of domestic and export markets, with the annual output for...
Subscribe via Email
Forex1 week ago
Leverage from Forex Brokers & How Beginners Can Benefit from It
Economics6 days ago
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
National5 days ago
Human trafficking cases in Thailand hit decade low due to COVID-19
Banking1 week ago
Can Fintech drive a strong post-COVID-19 recovery in Asia?