Hanoi (VNA) – ASEAN countries will step up cooperation and shareresources to ensure energy security through expanding power grid connectivity anddeveloping renewable energies.

The commitment was made by ministers and deputy ministers in charge of energyof the ten member states of the Association of the Southeast Asian Nations(ASEAN) at the 36th ASEAN Ministers on Energy Meeting (AMEM) and associatedmeetings held in Singapore from October 25-29.

Speaking at the event, Vietnamese Deputy Minister of Industry and Trade DangHoang An said Vietnam is ready to cooperate with international organisations toshare experience in making policies and issuing decisions to boost the use ofrenewable energy and integrate more deeply into the region’s energy connectionsystem for a greener ASEAN that uses energy in a smarter and more effectivemanner.

Singaporean Minister for Trade and Industry Chan Chun Sing said ASEAN countriesneed to work towards ensuring affordable, sustainable and reliable energyaccess for all.

This isespecially important in ASEAN as it is a vibrant and dynamic region, and isprojected to be the fourth largest economy in the world by 2030, he said,adding energy is essential to many sectors and as a result, the energy sectorunderpins economic growth and improves lives.

He said investments in power generation capacity andinfrastructure will be needed to meet ASEAN’s energy demand, which has grown by60 percent over the past 15 years. According to the International Energy Agency(IEA)’s projections, it will continue to grow strongly by 2040. Innovativesolutions are also needed to supply energy across ASEAN, as 65 million peoplein Southeast Asia currently still do not have access to electricity. 

Therefore, Chan stated that in addition to efforts by eachnation, cooperation within ASEAN and between the grouping and dialogue partnersand international organisations like the International Energy Agency (IEA) andthe International Renewable Energy Agency (IRENA) in energy investment andinfrastructure finance will support the region’s increasing energy demand andmake ASEAN more attractive to investors.

At the meeting, ASEAN member countries agreed to increase power gridconnectivity to double the power integration capacity from the current 5,200 MWto 10,800 MW in 2020 and 16,000 ME after that year. Phase 1 of the Laos-Thailand-Malaysia-SingaporePower Integration Project, the first multilateral power trade, started in Januarythis year and has so far hit 15.97 GWh.

ASEAN nations signed a memorandum of understanding (MoU) with IRENA onrenewable energy development and approved an action programme to realise thisMoU, with a view to supporting ASEAN in achieving the target of increasing renewableenergy rate to 23 percent by 2030.

The participants agreed to enhance energy collaboration with partners includingnations and international energy organisations so that ASEAN could be guaranteedin energy security, thus meeting people’s energy demand.

They also recognised outstanding results in ASEAN energy cooperation such asthe region’s energy intensity in 2016 dropping by 21.9 percent compared to 2005level, exceeding the targets of 20 percent in 2020 and 30 percent in 2030.

The rate of renewable energy reached 12.4 percent in the total energy structureof the region. For the Trans-ASEAN Gas Pipeline, six ASEAN member states namelyMyanmar, Thailand, Malaysia, Singapore, Indonesia and Vietnam have beensuccessfully connected through over 3,673 kilometres of cross-border naturalgas pipelines. In addition, eight liquefied natural gas (LNG) regasificationterminals have been built with a total capacity of 36.3 million tonnes perannum.

Right after the 36th AMEM, the host country organised the 11th Singapore International Energy Week (SIEW), drawing the participation ofpolicymakers, experts and businesses in the energy industry who shared current developmentstrategies and discussed measures to boost innovative ideas and cooperation to dealwith energy challenges the region is facing.-VNA