Joint Opening of the 35th ASEAN Ministers on Energy Meeting (AMEM) and Associated Meetings family photo.
(Manila, Philippines). Philippine Energy Secretary Alfonso G. Cusi on Wednesday asked investors to help fund the many energy-related undertakings of the member-states of the Association of Southeast Asian Nations (ASEAN) as he formally opened the 35th ASEAN Ministers on Energy Meeting (AMEM35).
Cusi welcomed his fellow energy ministers at the SMX Convention Center in Pasay as the host of the AMEM35, along with the ASEAN Energy Business Forum (AEBF). AMEM35, with the AEBF, serves as a platform for government energy policy makers, the business sector and energy innovators to meet and encourage more energy cooperation for the ASEAN region.
Highlighting the efforts of the ASEAN Member States to make the region a primary investment destination, Cusi told the business groups that the “ASEAN is the right place for you to invest in.”
Cusi said the Philippine government, as well as its counterparts in the ASEAN, have consistently tried to create a regulatory environment conducive and supportive of both regional and global investors.
“There are great (energy) plans, but these are plans that will cost money. Thus, it is imperative to draw in more investments," said Cusi, who cited renewable energy and liquefied natural gas as key areas for energy cooperation.
“From reduced carbon footprints to lower emissions to cleaner air, we know how important it is that we invest in the future of renewable energy sources. Ultimately, renewable energy must reach grid parity in a world where carbon-based energy (like coal and oil) is priced in a fair manner,” Cusi said.
Cusi pointed to an increasing demand for relatively cheaper natural gas from Asia, complemented by increasing supply from the rest of the world (i.e., the United States).
“Things are picking up on the regional front,” Cusi emphasized as the ASEAN member-states begin pursuing the Trans-ASEAN Gas Pipeline.
This will ensure the utilization of natural gas around the region, with investments on pipelines linking Singapore, Malaysia, Thailand, Myanmar and Indonesia, he said.
###