Asian nations to set up trans ASEAN gas pipelines

Cebu, Jan 15: Recognising that their energy needs were growing rapidly, India and 15 East Asian countries today signed a landmark agreement, pledging to make large-scale investments in regional energy infrastructure such as the ASEAN power grid and the Trans ASEAN Gas Pipeline.

In a Joint statement titled the 'Cebu Declaration on East Asian Energy Security', the 10 ASEAN countries along with their dialogue partners--India, Australia, China, Japan, South Korea and New Zealand-- decided to reduce dependence on conventional fuels and mitigate greenhouse emissions, contributing to abatement in global climate change.

Intensified energy efficiency and conservation programmes, hydropower, expansion of renewable energy systems and biofuel production/utilisation, and for interested parties, civilian nuclear power were the key to reducing the region's dependency on conventional fuels, they said.

Acknowledging that fossil fuels ''underpin our economies'', these countries also resolved to improve the efficiency and environmental performance of fossil fuel use.

The 16 Asian nations decided to encourage open and competitive regional and international markets geared towards providing affordable energy at all economic levels and pursue investment in the energy resource and infrastructure development through greater private sector involvement.

They called for promoting cleaner and lower emissions technologies that allow for the continued economic use of fossil fuels while addressing air pollution and greenhouse gas emissions and encouraging the use of biofuels and work towards freer trade on biofuels and a standard on biofuels used in engines and motor vehicles.

''Take concrete action toward improving efficiency and conservation, while enhancing international cooperation through intensified energy efficiency and conservation programmes, set individual goals and formulate action plans voluntarily for improving energy efficiency, increase capacity and reduce costs of renewable and alternate energy sources through innovative financing schemes and encourage collective efforts in intensifying the search for new and renewable energy resources and technologies, including research and development in biofuels,'' the declaration said.

The countries agreed to encourage recycling of oil revenues and profits for equity investments and long term, affordable loan facilities for developing countries in the region and explore possible modes of strategic fuel stockpiling such as individual programmes, multi-country and/or regional voluntary and commercial arrangements.

The countries called for promoting clean use of coal and development of clean coal technologies and international environmental cooperation towards mitigating global climate change, pursuing regional or bilateral cooperation through research and development, sharing of best practices, and financing of energy products.

They also agreed to assist less developed countries in enhancing national capacity building in achieving the identified goals.

The declaration added that the necessary follow-up action to ensure implementation of the measures would be undertaken through existing ASEAN mechanisms in close consultations among EAS participants.

UNI