OPENING REMARKS BY MINISTER CHAN CHUN SING AT THE 36TH ASEAN MINISTERS ON ENERGY MEETING PRESS CONFERENCE ON 29 OCT 2018, 1400 HRS, MARINA BAY SANDS SINGAPORE

Friends of the Media, 

Ladies and Gentlemen,

1.             Thank you for joining us this afternoon.

2.             I am pleased to share that we have concluded the 36th ASEAN Ministers on Energy Meeting (AMEM) this morning.

a.      The ASEAN Ministers had meaningful discussions, which saw the participation of both the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA) for the first time.

b.      We are grateful to have the IEA Executive Director Dr Fatih Birol and IRENA Director-General Adnan Amin, share their perspectives on the topics of “Energy Resilience and Innovation” and “Clean Energy Transformation” respectively.

3.             The Ministers noted that ASEAN’s economy is growing rapidly, and is projected to be the fourth largest in the world by 2030. The increasing energy demand required to fuel this growth will lead to growing opportunities in the energy sector. These opportunities will be best seized through three strategies: (i) intensifying investment; (ii) strengthening integration and deepening innovation across the entire value chain of energy production; and (iii) management and consumption. Our strategies needed to support these must be strengthened through greater cooperation between ASEAN and our partners, and throughout the year, our ASEAN colleagues on the Energy Track have worked closely to advance our collective goals on energy security, accessibility and sustainability. Our efforts have culminated in the good outcomes from the AMEM Meeting this morning.

4.             At the ASEAN level, we have made progress toward adopting common standards and are working on initiatives that will allow companies to gain better access to markets and opportunities within ASEAN.  To this end,

a.      The ASEAN Ministers welcomed the progress towards the development of Green Building Codes in ASEAN Member States, based on the key recommendations from the study by the ASEAN Centre for Energy under the ASEAN-German Energy Programme.  This will enable us to better realise energy savings in the buildings sector, and effectively manage the significant energy demand expected from this sector in the medium term.

b.      The Ministers also endorsed the recommendations of the Gas Advocacy White Paper, developed by the ASEAN Council on Petroleum (ASCOPE), to enhance LNG cooperation and trade in ASEAN.  The White Paper outlines several recommendations to optimise the use of natural gas and LNG, which will identify commercial opportunities for the ASEAN LNG market and contribute to the region’s long-term energy security.

5.             ASEAN is also a choice partner for international energy engagement, given the region’s growing energy demand and dynamism. On this front, we have developed new and expanded ongoing partnerships with key international organisations:

a.      Specifically, the ASEAN Ministers have agreed to the signing of a Memorandum of Understanding (MOU) with IRENA and the endorsement of its accompanying Action Plan, which outlines key areas of cooperation to facilitate the acceleration of renewables deployment in ASEAN.  These initiatives will bolster ASEAN’s efforts in meeting our aspirational target of increasing the component of renewable energy in our energy mix to 23% by 2025; 

b.      The Ministers have also endorsed the Capacity Building Roadmap on Energy Investment and Financing, co-developed by the IEA and the ASEAN Regional Energy Policy and Planning Sub-sector Network.  The Roadmap seeks to enhance ASEAN’s capabilities to attract investments and develop sustainable financing models, in order to meet its increasing energy demand and improve energy access. 

6.             In addition, the ASEAN Ministers welcomed the overall good progress in the implementation of Phase 1 of the ASEAN Plan of Action for Energy Cooperation, as highlighted in its Mid-Term Review Report. 

7.             These outcomes showcase the commitment of all 10 ASEAN countries to deepen regional cooperation and develop mutually beneficial initiatives in the energy space.  It is important for us to continue working closely together in order to facilitate ASEAN’s energy transformation to sustain growth, generate greater business opportunities, and improve lives in the region. 

8.             ASEAN is well positioned to achieve our collective energy goals, and Singapore is honoured to have contributed to ASEAN’s significant progress in this aspect during our Chairmanship of the ASEAN Energy Track this year.

9.             Later this afternoon, we will be hosting the 15th ASEAN Plus Three Ministers on Energy Meeting and 12th East Asia Summit (EAS) Energy Ministers Meeting.  ASEAN Ministers will meet our counterparts from Australia, China, India, Japan, New Zealand, Republic of Korea, Russian Federation and the United States of America, and will discuss both ongoing and future energy cooperation.

10.          Thank you.