Asian energy ministers vow cooperation as oil prices soar
Asian energy ministers vow cooperation as oil prices soar
Agence France-Presse, Pnom Penh
Asian energy ministers have agreed in Cambodia to boost cooperation in the face of climbing oil prices, but listed few concrete targets in a communique issued at the conclusion of annual talks.
Ministers from the 10-member Association of Southeast Asian Nations (ASEAN), China, Japan and South Korea wrapped up a meeting in the northwestern town of Siem Reap on Wednesday and released the communique to reporters on Thursday.
In response to soaring prices, the ministers agreed to take steps "including joint study on oil market and trading in ASEAN- plus-three countries, diversifying the primary energy supply, facilitating energy efficiency and conservation."
Prices reached a record high of US$62.10 last week but on Thursday dropped below $60 a barrel in Asian trade as concerns eased over U.S. production in the Gulf of Mexico being disrupted by a tropical storm.
While countries agreed that energy efficiency and conservation was "critical" to security, tackling climate change and reducing vulnerability to high prices, the statement fell short of listing specific targets.
Environmental watchdog Greenpeace has been lobbying ASEAN to more seriously tackle climate change, urging ministers to develop strategies to reduce carbon dioxide emissions as the region is one of the world's top emitters of the gas.
Combined carbon emissions of ASEAN members Indonesia, Malaysia, Philippines, Thailand, Singapore and Vietnam was 250 million tons, lagging only behind China and India among developing economies, based on US data, the watchdog says.
The ministers said only that they emphasized a need "to forge stronger partnership in new and renewable energy development", and meanwhile advocated the development of regional gas reserves and use of clean coal.
Cambodia's Prime Minister Hun Sen opened the meeting with a call to ministers to unite and seek out new energy resources and "when there is enough guarantee of an oil supply" countries should protect the environment and honor the Kyoto Protocol on climate change.
Average temperatures over the last century in Asia have risen by 0.3 to 0.8 percent and extreme weather events such as droughts and floods are likely to hit developing ASEAN members such as Cambodia the hardest, Greenpeace has said.