ASEAN, Japan to develop new sources of energy
Japan’s Economy, Trade and Industry Minister Toshihiro Nikai said both sides would address the issue of energy efficiency and conservation, and development of new sources of energy.
“We will give a strong commitment and work together (on the energy issue),“ he said at a joint media conference with his Malaysian counterpart, Datuk Seri Rafidah Aziz, at the end of consultations between him and ASEAN economic ministers here Wednesday.
Nikai said Asean and Japan could cooperate in developing new sources of energy from products like maize and palm oil, of which ASEAN countries are the world’s biggest producers, bernama.com said.
Japan, he added, was undertaking several programs in such areas and willing to share information and experience with the 10-member Association of Southeast Asian Nations.
Rafidah said ASEAN welcomed Japan’s move to cooperate in energy security and would encourage energy officials to continue developing and promoting new and alternative sources of energy.
Such cooperation, she said, would assist in reducing oil dependency and enhancing regional energy security.
Global oil prices reached a record high of U.S.$78.40 per barrel last July, no thanks to the conflict in Lebanon.
Today, prices hovered at around U.S.$73 per barrel as fears remained that situation could escalate further due to the nuclear standoff between the United States and oil-rich Iran over its nuclear enrichment program.
Indonesia, Malaysia, Brunei and Thailand are crude oil producers in the region while the rest of ASEAN are mainly oil importers.