ASEAN KEY DESTINATIONS
US, Brunei, Indonesia propose sustainable energy partnership
"Energy and the environment are among the most pressing issues confronting our region," the White House said before President Barack Obama left for Washington yesterday.
The regional partnership was proposed by Obama, Brunei Sultan Hassanal Bolkiah and Indonesian President Susilo Bambang Yudhoyono at the East Asia Summit earlier yesterday.
"Recognising the key roles in the coming year of Brunei as it assumes Chair of Asean and the East Asia Summit, and of Indonesia as it takes up the Chair of APEC, President Obama looks forward to working closely with both countries as well as the range of partners across the region to advance energy and sustainability cooperation," a statement said.
The White House said the partnership offered a framework for energy and environmental cooperation across existing forums to ensure affordable, secure, and cleaner energy supplies.
"Bilateral and multilateral energy and environmental initiatives are flourishing in the Asia Pacific," the statement said.
"The United States, in partnership with Brunei and Indonesia, will help coordinate and enhance these efforts, share best practices, and leverage existing initiatives."
Existing energy initiatives include the Asean-United States Energy Cooperation Work Plan, the APEC Energy Working Group and East Asia Summit Energy Ministers.
Key regional priorities are renewables and cleaner energy, markets and interconnectivity, the emerging role of natural gas and sustainable development.
"We will engage with the private sector as well as partner countries in the region to determine specific projects within these four priority areas," the statement said, adding that work was also envisaged with the World Bank and the Asian Development Bank.
"With an estimated US$9 trillion needed in investment in electricity alone through 2035 to meet growing demand in the region, there is enormous potential for U.S. industry to play an important role in the region’s energy future."
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