Dr Fatih Birol, Executive Director, International Energy Agency,
Excellencies,
Distinguished Guests,
Ladies and Gentlemen,
1. On behalf of the Energy Market Authority of Singapore I would like to warmly welcome you to this session presenting IEA’s Southeast Asia Energy Outlook 2015, held in association with the Singapore International Energy Week.
2. Let me first start by expressing my appreciation to KPMG for partnering EMA and the IEA for this lunch presentation.
ASEAN-IEA Energy Cooperation
3. ASEAN is at the heart of a dynamic region, and energy is key to unlocking our prosperity as one Economic Community. At the recent ASEAN Ministers' Energy Meeting in Kuala Lumpur, our Ministers endorsed a new 10-year Action Plan to guide ASEAN towards our common goals of energy security, energy sustainability and energy accessibility for all. Under this new Action Plan, regional connectivity will continue to be a key focus. For example, as part of the existing Trans-ASEAN Gas Pipeline initiative, ASEAN will tap on the development of LNG terminals in ASEAN as an additional avenue for the movement of gas.
4. ASEAN has also set new 2025 aspirational targets to reduce energy intensity by 30 percent, and to increase the share of renewable energy in ASEAN’s energy mix to 23 percent. Towards this end we continue to tap the expertise of our Dialogue Partners and International Organisations like the IEA.
5. We are therefore delighted that the IEA has chosen to continue to focus on the region and invested resources to come up with the second Southeast Asia Energy Outlook. The findings from this Outlook will be useful to ASEAN in both our policy planning and prioritisation over the next decade.
6. For example, the Outlook shows that the share of natural gas is expected to decline, due to competition from abundant and cheap coal, as well as gas supply challenges. Given the global imperatives on the climate change front, more needs to be done to encourage greater natural gas adoption, including the development of a more efficient and transparent gas market in the region.
7. The Outlook also identifies areas where more can be done to raise energy efficiency, for example, in the buildings sector. Through our Building and Construction Authority (BCA), Singapore has made good progress in the area of energy efficiency for buildings. Today, almost three out of 10 buildings in Singapore have attained the BCA Green Mark. This means that these buildings uphold the highest standards for energy and water-efficient consumption, environmental protection and indoor environment quality. We look forward to working with the IEA to share some of these best practices with ASEAN.
Singapore’s Engagement With The IEA
8. Singapore shares an excellent working relationship with the IEA on many levels. We are happy that Dr Birol has decided to make Singapore his first stop in Southeast Asia after taking office. The IEA has been a strong supporter of the Singapore International Energy Week since 2010 and EMA has co-hosted several of the IEA’s key report launches in Singapore. This includes the flagship World Energy Outlook in 2011 and 2012, as well as the IEA Report on Natural Gas Trading Hubs in Asia in 2013.
9. Dr Birol has also asked to hold the global launch of the IEA’s Medium-Term Coal Market report in Singapore in December. This will be the first time that the IEA is organising a global launch outside of Europe. We are more than happy to do so, and to continue to work with the IEA to use Singapore as a platform to reach out not only to Asia but to the rest of the world.
Introduction Of Dr Birol
10. Now, a few words on Dr Birol, who is no stranger to most of you. Dr Birol took up post as Executive Director in September, after being unanimously elected by IEA member countries. He is the first Executive Director to have risen through the ranks.
11. In a break from tradition, Dr Birol’s first overseas visits after taking up post were to China and India – both non-IEA member countries. The IEA is also in discussions with key emerging economies, including Indonesia, on joining the IEA as Associate Members. This reflects his vision to develop a truly international energy agency. We welcome these initiatives towards a more inclusive global energy architecture.
12. Without further ado, let me now invite Dr Birol on stage to deliver his address. Dr Birol, please.