Asean energy ministers today agreed to strengthen sustainable energy development to promote greater energy stability, security and sustainability in the region, according to Malaysian News Agency Bernama. In a joint statement at the end of the 25th Asean Ministers of Energy Meeting (AMEM) here, they agreed to do this "through the expanding markets for renewable energy technologies and energy efficient products". Other means of achieving it include promoting a comprehensive institutional arrangement for enhanced security and stability of energy supply, developing regional energy infrastructure facilities, and intensifying regional cooperation in enhancing energy integration. The ministers also agreed in principle to the establishment of an Asean Nuclear Energy Safety Sub-Sector Network to explore nuclear safety issues. For this, they tasked senior energy officials to work out the terms of reference and composition of the network and report back at the next AMEM in 2008 in Thailand. At the meeting the ministers signed a memorandum of understanding on the Asean Power Grid (APG) to serve as a reference document for the coordination and facilitation of power interconnection projects in the Asean region. They also noted the progress in finalising the new Asean Petroleum Security Agreement (APSA), which is expected to be signed at next year's AMEM. "The conclusion of the new APSA will be an important milestone to provide the necessary mechanism for a timely coordinated response during periods of petroleum shortages and emergencies," the statement said. Discussions also touched on renewable energy and the emergence of bio-fuels as one of the alternatives to reduce Asean's fossil fuel consumption. In reiterating the need to foster closer cooperation in promoting bio-fuels produced in a sustainable manner, the ministers agreed to forge further regional cooperative partnerships to promote solar, wind, geothermal, hydro and biomass energy, it added. Meanwhile, at the 4th Asean+3 Ministers of Energy Meeting (AMEM+3) which was also held today - with the Asean ministers being joined by their counterparts from China, Japan and South Korea - the ministers expressed their concern over the increasing dependence on oil as well as the high and volatile oil prices. "The ministers recognised the need to strengthen the emergency preparedness and participate in measures to manage the risks and consequences of short-term energy supply disruptions," said a joint statement issued after the meeting. The ministers welcomed the progress towards the development of oil stockpiles among Asean+3 countries as a possible approach to mitigate the adverse impact of a supply disruption. They hoped these countries will, where possible, share information on the progress of their respective oil stockpiling policies and methods as well as systems to enhance regional security.
