Singapore has set sustainable energy as its focus with its commitment to the LTMS Power Integration Project (LTMS-PIP), Second Minister for Trade & Industry Dr. Tan See Leng said during the 39th ASEAN Ministers on Energy meeting.
Countries that also agreed with Singapore were Lao PDR, Thailand, and Malaysia. These countries saw the project as a milestone for ASEAN power connectivity and looked forward to the commencement of the project in 2022.
Tan expressed the benefits of this project, not only for Singapore but for the ASEAN region, as well.
“This will help create a multilateral cross-border market for electricity trading, promote investments, and facilitate the development and deployment of low carbon solutions in the region. At the same time, it will enhance regional electricity supply security and resilience, whilst supporting Singapore’s energy transition. We look forward to the early finalisation of all agreements underpinning the LTMS-PIP with a view to commence cross-border power trade in 2022, and work towards multilateral electricity trading in the region.”
Aside from the 39th ASEAN Ministers on Energy, the 7th AMEM-International Energy Agency (IEA) Dialogue and 5th AMEM-International Renewable Energy Agency Dialogue were held today, as well. The 10th anniversary of the ASEAN-IEA was also held with the “Commemorative Statement on ASEAN-IEA Energy.
Singapore received 12 awards at the ASEAN Energy Awards 2021 Ceremony held that same evening. These were for implementing best practices in energy efficiency and contributions to the region’s energy sector.
Meanwhile, key dialogue partners from ASEAN, Australia, China, India, Japan, the Republic of Korea, New Zealand, Russia, and the United States will join the ASEAN member states at the 15th East Asia Summit Energy Ministers Meeting and 18th ASEAN Plus Three Ministers on Energy Meeting on 16 September.