RELIABLE and sustainable energy sources are key to ASEAN’s long-term economic growth. This is why Singapore in its capacity as ASEAN chair is pursuing initiatives that will build capabilities in areas such as energy efficiency, natural gas and renewable energy.
Planned initiatives include developing policy recommendations for a regional green building code, building capabilities in energy investments and financing and facilitating greater Liquefied Natural Gas (LNG) cooperation and trade.
Attracting energy investments and financing to ASEAN
Singapore is working with international energy organisations and international financial institutions to build capabilities in the region to attract energy investments and provide sustainable financing to power economic development. As part of these efforts, Singapore and the International Energy Agency (IEA) are co-organising the Singapore-IEA Clean Energy Investment and Financing Training Programme from Aug 28-30, 2018 in Singapore.
Facilitating greater natural gas and LNG cooperation
Natural gas has the potential to play a key role in enhancing the region’s energy security and its transition towards a low carbon economy. It would benefit the region to shift its focus towards LNG cooperation by promoting intra-regional LNG trade.
This includes, for example, sourcing natural gas from within the region as well as sharing LNG infrastructure, which reduces the need for additional expenditure on new investments.
Developing an ASEAN Green Building Code
Increasing energy efficiency is crucial to ensuring sustainable regional growth, particularly for developing economies experiencing rapid urbanisation. The building and construction sector is one of the biggest energy consumers in ASEAN.
To improve the energy efficiency of buildings, ASEAN is working towards developing policy recommendations for a regional Green Building Code for the building sector. As acceptance of green building practices expands, putting in place building codes are an opportunity to raise the bar on requirements.
Providing an annual platform for the discussion of global energy issues and their impact on the region – Singapore International Energy Week (SIEW)
For the first time, the 36th ASEAN Ministers on Energy Meeting (AMEM) will be held together with the 11th Singapore International Energy Week from Oct 29 to Nov 2, 2018, as part of Singapore’s ASEAN chairmanship.
SIEW will bring together key stakeholders from governments, industry and international organisations to discuss how ASEAN can strengthen its engagement with global energy players and develop energy solutions for the region.
The 11th edition of SIEW will also host the 2nd Singapore-IEA forum which will focus on the digital energy system of the future.
Deepening cooperation with international organisations
ASEAN is enhancing collaborations with international organisations such as the IEA and International Renewable Energy Agency for greater energy security and cleaner access to electricity.