Remarks by Minister Chan Chun Sing on the thirty sixth ASEAN Ministers on Energy Meeting (AMEM) Opening Ceremony

thirty sixth ASEAN MINISTERS ON ENERGY MEETING (AMEM) OPENING CEREMONY REMARKS BY MINISTER CHAN CHUN SING, ON MONDAY, 29 OCTOBER 2018, 8.30AM, SANDS EXPO & CONVENTION CENTRE, MARINA BAY SANDS
 

Your Excellencies

Distinguished Guests

Ladies and Gentlemen

Introduction

1.             An excellent morning to all of you. I’m very joyful to welcome our ASEAN colleagues and mates to Singapore for the thirty sixth ASEAN Ministers on Energy Meeting, or AMEM. 

2.             The theme for this 12 months’s AMEM is “Transforming Energy: Invest, Innovate, Integrate”, in keeping with Singapore’s themes of Resilience and Innovation for ASEAN this 12 months.

3.             Advances in expertise are altering the worldwide power panorama. Renewables have gotten more and more value aggressive, data-enabled power administration methods are permitting higher optimisation of the grid, and power storage methods are offering new choices to reinforce grid resilience. We might want to rework our power sectors to handle the challenges and seize alternatives that come up as a consequence of these adjustments.

Energy as a key enabler of financial growth

4.             This is particularly essential in ASEAN. ASEAN is a vibrant and dynamic area, and is projected to be the fourth largest financial system on the planet by 2030. Energy is important to many sectors and in consequence, the power sector underpins our collective financial progress. 

5.             To make sure that ASEAN is ready to reside as much as its financial potential and promise to its individuals, we might want to work in direction of making certain inexpensive, sustainable and dependable power entry for all. 

6.             This is not going to be straightforward. Investments in energy era capability and infrastructure can be wanted to fulfill ASEAN’s power demand, which has grown by 60% over the previous 15 years. According to the International Energy Agency (IEA)’s projections, it’ll proceed to develop by one other two-thirds by 2040. Innovative options are additionally wanted to provide power throughout ASEAN, as 65 million individuals in Southeast Asia presently nonetheless do not need entry to electrical energy. 

7.             At the identical time, there may be international consensus that local weather change stays a big problem of our occasions. ASEAN nations should search for sustainable methods to develop our economies, to be able to guarantee our progress doesn’t come on the expense of our surroundings or our individuals. There is a urgent must facilitate ASEAN’s power transition to maintain financial progress and to enhance lives.

Strong cooperation inside ASEAN is important

8.             ASEAN Member States recognise that these objectives can’t be achieved with out shut regional cooperation. Since 1999, we’ve collectively developed the ASEAN Plan of Action for Energy Cooperation, or APAEC, as a blueprint for multilateral power cooperation.

9.             The newest version, the APAEC 2016 – 2025, spells out our dedication to work in direction of enhancing power connectivity and market integration in ASEAN, to attain power safety, accessibility, affordability and sustainability for all. 

10.          ASEAN Member States are presently mid-way by means of implementing the primary part of the APAEC 2016 – 2025 plan. So far, we’ve seen sturdy progress and are on monitor to attain the objectives set out within the first part. I wish to spotlight a few of the key milestones that we’ve achieved this 12 months. 

a.    ASEAN has a aim to scale back our power depth by 20% by 2020, in comparison with 2005 ranges. We have exceeded this goal, and have to this point lowered our power depth by 21.9% in 2016.

b.    We noticed multilateral energy trades achieved beneath Phase 1 of the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project, with the primary commerce happening in January this 12 months. This is an effective step in direction of enhancing our power connectivity. 

c.     For the Trans-ASEAN Gas Pipeline, six ASEAN Member States have been efficiently linked by means of over 3,600 kilometres of cross-border pure fuel pipelines, as of July this 12 months. In addition, eight liquefied pure fuel (LNG) regasification terminals have been constructed with a complete capability of 36 million tonnes every year (Mtpa).

11.          While we have a good time the nice progress made to this point, we might want to proceed to work arduous collectively, to implement the remaining measures and realise the advantages for our individuals.

12.          Further efforts are additionally wanted to scale up the deployment of renewable power to achieve ASEAN’s aspirational goal of 23% share of renewable power in our power combine by 2025. Enabling coverage and funding frameworks would additionally assist to facilitate the power transition and discover a steadiness between renewables and fossil fuels.  

13.          Another instance is within the buildings sector, the place power demand is predicted to develop considerably over the following decade. With shut regional collaboration amongst our constructing trade specialists, we will create a provide of inexperienced buildings by means of clever design and use of supplies. Zero-energy buildings are doable, and sooner or later, maybe even web optimistic power buildings.

Increasing collaborations with ASEAN’s companions

14.          Beyond ASEAN’s borders, we’re deepening our collaborations with our dialogue companions and worldwide organisations, to work in direction of implementing the APAEC. Such international power cooperation is more and more essential in sustaining power safety, facilitating worldwide partnerships, and in shaping a sustainable power future. 

15.          We have been working carefully with the IEA on power funding and infrastructure financing to make sure that there may be enough infrastructure to help the area’s rising power demand, and to make ASEAN a horny hub for infrastructure growth tasks. 

16.          ASEAN can be seeking to deepen our engagement with the International Renewable Energy Agency (IRENA) by means of the ASEAN-IRENA Memorandum of Understanding (MOU), to scale up renewable power deployment within the area. Joint efforts in capability constructing in renewable power insurance policies and technical experience will contribute in direction of reaching our renewable power goal. 

17.          Beyond the general public sector, power trade gamers, and tutorial establishments even have a job to play in enabling ASEAN’s power transition. This 12 months, we’re holding the thirty sixth AMEM along with the eleventh Singapore International Energy Week (SIEW) to facilitate the change of concepts between prime policymakers and power trade practitioners. Through stronger collaboration and the sharing of modern concepts and finest practices, we will undertake higher concepts to arrange our individuals, cities and nations to navigate the altering power panorama.

Conclusion

18.          I wish to thank the delegations for working arduous within the run as much as this assembly, to make sure that we obtain what the ASEAN power group has got down to do. Let us all construct on the nice work executed to this point, to carry ASEAN even nearer to reaching our APAEC objectives. 

19.          I hope that you’ll have interaction in energetic exchanges with varied power professionals, policy-makers and trade gamers all through this week at each AMEM and SIEW. Let us be taught from one another’s experiences and strengthen our collective efforts to construct an inexpensive, sustainable and dependable power future for ASEAN.

20.          Thank you very a lot and I want you all fruitful conferences forward.