World : ASEAN should accelerate actions to heighten energy security

4 days ago

By Voon Miaw Ping

KUALA LUMPUR, Sept 23 (Bernama) -- ASEAN should advanced pre-emptive action to heighten activity safety in the region, demography a cue from the accepted activity crisis in Europe unleashed by the fallout from the Russia-Ukraine conflict.

Consumers and governments above Europe continue to attempt with aerial activity costs amidst curtailment of delivery which has exacerbated the charge of dwelling crisis, and potentially attempt economies into recession.

Russia, the capital exporter of accustomed gas to the European Union (EU) has indefinitely shut bottomward delivery via the Nord Stream 1 pipeline, ambience new annal in gas prices and low supplies.

ASEAN is also activity the heat from ascent activity prices and affiliate states have responded by accretion activity prices or subsidies, with the catechism of energy safety is also high in their agenda.   

Head of Social, Law and Human Rights at Emir Research Jason Loh said the activity crisis in Europe is not accepted to have absolute adverse impact on the Southeast Asia arena in the abbreviate term.

However, he cautioned which the acid off delivery by Russia to Europe would intend the chase for addition sources will intensify, thus could affect the delivery and price levels.

Citing Malaysia - one of the world’s better importers of accustomed gas, he answered it could end up advantageous further for accustomed gas for instance.

“This, in about-face would force us to await further on calm ability like deepening our analysis and abstraction efforts in the South China Sea as able-bodied as acceptation from Indonesia which has large reserves.

“ASEAN member-states like the Philippines may also become accessible as the country is declared to begin importing accustomed gas this year which coincides with the on-going activity crisis,” he said. 

To body a able local activity security, and in appearance of the supply-chain disruptions acquired by the Russia-Ukraine conflict, he answered it is acute to acceleration up affiliation of the ASEAN Power Grid (APG) which is accommodating with a Common ASEAN Gas Market. 

He answered this could assist appear abbreviating assurance on atramentous and accompanying accretion assurance on accustomed gas sourced from aural the region, including the South China Sea (SCS).

For which purpose, he answered ASEAN should analyze ambience up of a accustomed activity armamentarium with contributions from all member-states matched by loans from the Asian Development Bank.

“At the aforementioned time, the accustomed activity armamentarium should be opened up for advance by the clandestine area – regionally and internationally – which can be allotment of the environmental, amusing and babyminding (ESG) charge and agenda beneath the added acceptable development goals (SDGs) back gas agent compressors aftermath beneath greenhouse gas (GHG) emissions in the assembly of electricity compared to coal-fired plants, for example.

“Indirectly, the clandestine area investments serve also as a anatomy of adopted absolute advance (FDI) in the activity delivery of the region,” he suggested. 

He also acicular out which the achievement of the Trans-ASEAN Gas Pipeline Project (TAGP) Masterplan choose to be accelerated to advance local connectivity and affiliation via LNG (liquified accustomed gas) regasification terminals.

Meanwhile, a Danish able answered the accepted crisis has further approved the accent and coercion for countries to acceleration up alteration to blooming energy.

Magnus Hojberg Mernild, Head of Press & Communications at Denmark’s State of Green answered with all-around disruptions and skyrocketing prices, it is now clearer than anytime which affective to clean energy is key to not alone active altitude change, about also a key element of civic as able-bodied as local safety policy.

“The bearings can hopefully atom a all-around movement to advanced efforts appear net-zero. Clearly, the bearings shows which all-around efforts and cross-border partnerships are the alone remedies,” he informed Bernama in an email reply.

State of Green is a public-private affiliation gluttonous to advance relations with global stakeholders in discussing challenges, competencies and new technologies to accredit blooming transition.

He recalled Denmark’s acute acquaintance in the 1970s all-around oil crisis which sparked the country’s charge appear architecture reliable renewable activity industry.

He acicular out when the 1973 oil crisis struck, further than 90 per cent of its civic activity food were from imported oil.

“The surging prices hit a key assumption in the association and apparent a axis point in Denmark’s activity policies.

“Virtually overnight, the crisis spurred a advance to alter the civic activity mix, and the enactment of a new authoritative administration was once advised a arrangement for a acknowledged reorientation of the activity sector,” he informed Bernama in an email. 

Hojberg also attributed the success of Denmark’s accommodation to heighten its activity safety has been its access to policymaking, area continued appellation agreements with ample demography above political spectrum and the abutment of industry were devised on activity and ambiance issue.

“This way behavior abide banausic alike while government changes, and the after political stability has assist defended connected advance and solutions to many of the nation’s acceptable development challenges,” he added.

He answered Danish experience over the accomplished decades appearance which advance in renewable energy, activity efficiency, and assets optimisation makes acceptable bread-and-butter sense.

Today, further than 50 per cent of electricity in Denmark is supplied by wind and solar power.

He answered advance allotment on blooming portfolios in many cases beat investments in deposit fuels, including Danish consumers can get their electricity at a lower amount point analyze to their European peers. 

“With a civic achievement of 2.3 TWh, Danish wind turbines generated blooming activity agnate to 68 per cent of the Danish electricity burning in January.

“The Danish alteration shows which blooming business is acceptable business,” he said.

According to Hojberg, back 1990, Denmark have managed to decouple bread-and-butter advance from its all-embracing activity consumption.

The Danish GDP has further than doubled, while the Danish gross activity burning has decreased by 14 per cent and over the aforementioned period, baptize burning has decreased by 40 per cent, he added.

“Based on this, we can durably say which it is accessible to actualize advance after application further energy,” he said. 

-- BERNAMA


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