Malaysia suggests joint oil stockpile for energy security<\/p>\n
Moch. N. Kurniawan and Novan Iman Santosa, The Jakarta Post,
\nNusa Dua, Bali<\/p>\n
Malaysia has proposed the establishment of a joint oil
\nstockpile among ASEAN countries to help ensure energy security in
\nthe region.<\/p>\n
Malaysian Minister of Energy, Communication and Multimedia
\nDatuk Amar Leo Moggie said here on Sunday that he had invited
\nIndonesia to work together in initiating a feasibility study
\ntoward the creation of a joint crude oil stockpile.<\/p>\n
\"We have not yet made the detailed mechanism. We are just
\nfloating the idea to member countries,\" Amar told reporters on
\nthe sidelines of the two-day Indonesian International Oil, Gas
\nand Energy (IIOGE) conference.<\/p>\n
\"The center is important to make sure that we have some
\nelement of comfort (on oil supply).\"<\/p>\n
Malaysia will become a net oil importer by 2008 while
\nIndonesia has a longer lifespan, Amar said.<\/p>\n
\"But still we will become net oil importers soon.\"<\/p>\n
Amar also said that he could not determine the size of the
\ninitial stockpile as it had to be analyzed first.<\/p>\n
\"I do not know the minimum requirement yet but the most
\nimportant is to make the idea acceptable,\" he said.<\/p>\n
Separately, Director General for Oil and Gas Rachmat Sudibyo
\nsaid it was a good idea, but it needed a further discussion among
\nother ASEAN countries.<\/p>\n
\"We (Indonesia) will carefully discuss it as ... we don't want
\nthe idea to create further burden for us,\" he told The Jakarta
\nPost.<\/p>\n
Both Malaysia and Indonesia are major oil producers in the
\nregion.<\/p>\n
Indonesia produces about 1.2 million barrels of oil per day.<\/p>\n
Amar also said his country was willing to host the ASEAN
\nCouncil on Petroleum (ASCOPE) Gas Center, which will become the
\nASEAN gas center.<\/p>\n
\"Generally, the center will focus on formulating strategies
\nand facilitating ASEAN gas development,\" he said.<\/p>\n
In the short term, the gas center would nurture technical and
\ncommercial capability in the gas industry among ASCOPE members,
\nhe said.<\/p>\n
It would also function as the focal point for a natural gas
\ntechnology program and to provide updates and information sharing
\nwithin the natural gas industry, Datuk went on.<\/p>\n
In the long term, the center would enhance and promote ASEAN's
\ntechnology capability advancement in the gas industry through
\neffective gas-related techno-economic, research and development,
\neducation, skilled training and development, he said.<\/p>\n
Malaysian state oil company Petronas has already set up a gas
\ncenter in its research and development facilities in Bangi.<\/p>\n
\"We are offering this center to be ASEAN's center on all gas-
\nrelated aspects both upstream and downstream.<\/p>\n
\"Both Malaysia and Indonesia have offered to host the center
\nbut it will be up to ASCOPE to decide,\" he said.<\/p>\n
The 20th ASEAN Ministers of Energy Meeting (AMEM) has
\nrecommended ASCOPE set up an ASCOPE Gas Center that can develop
\ninto an independent ASEAN Gas Center.<\/p>\n
The ASEAN ministers have also signed a memorandum of
\nunderstanding to further develop a cross-border regulatory
\nmechanism on the Trans ASEAN gas pipeline.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/malaysia-suggests-joint-oil-stockpile-for-energy-security-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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