ERIA Establishes a New Unit on Energy to Enhance Energy Security in the Region
The Economic Research Institute for ASEAN and East Asia (ERIA) announced to establish a new unit ('Energy Unit'), which will work towards strengthening cooperation in energy sector activities, with the objective to enhance energy security in the region.
While recognizing that the global energy demand is on an upward trend reflecting the recovery of the global economy over the past year, and noting that energy demand in Asia continues to register significant increases, Energy Ministers of the East Asia Summit (EAS) agreed, at the fifth EAS Energy Minister Meeting in September 2011 in Bandar Seri Begawan, Brunei Darussalam, to enhance cooperation with increased focus on the following areas:
i) Charting outlook for energy demand and saving potential over the medium-to-long term;
ii) Coordinating emergency response policies and measures;
iii) Enhancing the use of existing fossil fuel resources in the region;
iv) Improving electric power infrastructure, including nuclear power generation; and,
v) Developing clean energy and smart communities for efficient use of energy in the region.
To initiate the cooperation, EAS Energy Ministers also agreed to commence studies in these areas to be undertaken by ERIA with relevant support from Japan. This initiative was also endorsed at the 19th ASEAN Summit and the sixth EAS in November 2011 in Bali, Indonesia.
With additional financial contribution from Japanese government, ERIA has established the East Asia Energy Fund, which will be dedicated to energy related research activities of ERIA. ERIA will continue to be the center of excellence to provide analytical policy recommendations to Leaders and Ministers of ASEAN and EAS through its research. ERIA will also continue to work through extended cooperation with energy related institutes and organizations (e.g. International Energy Agency, International Energy Forum) with a view to further enhance energy security of the region.