Danessa Rivera (The Philippine Star)
- September 26, 2019 - 12:00am
MANILA, Philippines — Energy
Secretary Alfonso Cusi is pushing for joint exploration of natural resources
with members of the Association of Southeast Asian Nations (ASEAN) to boost the
region’s energy security.
Citing International Energy Agency
(IEA) projections, Cusi said the region is projected to become an emerging
heavyweight in global energy as it is poised to rise as the world’s fourth
largest economy by 2030.
“IEA projections indicate that from
our 2018 level of nearly $40 million for the period 2019-2040 we must almost
double the amount of our energy investments annually to sustain the region’s
energy needs,” Cusi said.
“Additionally, these upshoots in
demand are driving energy import levels upwards, escalating concerns about our
energy security. This, again, puts emphasis on the importance of building up
energy infrastructure and resources, and strengthening energy efficiency
measures even further,” he said.
Cusi said ASEAN member countries
have shared borders, making it imperative to jointly explore available
resources to help augment regional energy security.
“While accelerated progress in
Southeast Asia may pose some challenges, ultimately, we find strength in
numbers. With a united ASEAN working towards the realization of full energy
connectivity and market integration, I am confident that we would attain our
vision of energy security, accessibility, affordability, and sustainability for
all,” he said.
Discussions on possible joint
exploration of resources have already started among ASEAN members.
“It’s ongoing. A technical working
group has already been formed,” Cusi said.
This follows the Philippines’
proposal to include oil exploration and development as the eighth sub-sector
network in the updated ASEAN Plan of Action for energy cooperation, and for the
ASEAN Council on Petroleum during the 37th ASEAN Ministers on Energy Meeting
(AMEM37) earlier this month.
Cusi also called for the further
strengthening of energy relations among ASEAN member-countries on a myriad of
energy issues, which included, among others, innovations in renewable energy,
climate change mitigation, and microgrid utilization.
Apart from conducting joint
exploration with ASEAN members, the Philippines is also looking to jointly
explore prospects in the West Philippine Sea with China.
Both countries are forming a
framework for joint exploration in the West Philippine Sea in the spirit of
cooperation and reaching a common goal of the possibility of joint exploration
activities in the disputed waters.
This follows the memorandum of
understanding (MOU) signed by President Duterte and Chinese President Xi Jinping
in November last year.
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