Malaysia Energy Forum Explores the Potential of the ASEAN Energy Market
12 JUNE 2017, Astana, Kazakhstan - Malaysia and Kazakhstan today signed a Memorandum of Understanding (MOU) on bilateral in the field of green technology, including clean energy.
The Minister of Energy, Green Technology and Water, Malaysia, Dr. Maximus Johnity Ongkili, and Vice Minister of Energy, Kazakhstan, Gani Sadibekov, signed the MoU at the Malaysia Energy Forum held in conjunction with EXPO 2017 in Astana.
The MoU will see both countries identifying ways of implementing programmes or projects in areas of green technology, including renewable energy, green buildings, smart cities, and carbon emission mitigation.
This MoU will contribute to the RM1 billion in trade and investments that Malaysia aims to secure at EXPO 2017. In 2015, the volume of trade between Malaysia and Kazakhstan was about RM 429.5 million (USD100 million). The figure dropped slightly to RM360.7 million (USD84 million) last year as a result of foreign exchange fluctuations.
Commenting on the MoU, Minister Dr. Ongkili stated: “The cooperation will serve our common interests and contribute to the enhancement of the economic and social development of the people of both countries. Malaysia’s relationship with Kazakhstan is already bearing fruit with 99% of the trade volume between the two nations involving Kazakhstan importing products from Malaysia, such as wood, marble, electronic chips and palm oil.”
Dr. Ongkili added, “Malaysia has a lot of experience in the green technology field, which can contribute to Kazakhstan realising its goal for Renewable Energy to contribute to half of its energy needs by 2050.”
The theme of the Malaysia Energy Forum was “Tapping the Potential of the ASEAN Energy Market”. It was attended by 150 delegates, including government officials, corporate leaders and advocates in the energy space.
The Malaysia Energy Forum is one of the many programmes organised by Malaysia during EXPO 2017 to showcase the nation’s emerging market leadership in Green Growth. It is a platform for vibrant discussions centred on how ASEAN countries can balance their energy needs to meet a growing economy and institutionalising the climate agenda in their energy policies.
Dr. Ongkili, who was one of the Forum panelists, stated: “We believe that the future lies in sustainable energy. With renewable resources such as hydro, solar, bioenergy and even geothermal in abundance in Malaysia, we want to fully utilise our resources to achieve the vision of a nation driven by sustainable energy.”
“In 2013, ASEAN’s electricity produced from renewable energy sources accounted for about 21% of total electricity generation in the region. ASEAN as a region must continue to strengthen regional cooperation especially in sharing best practices in energy development and utilization in order to increase its effectiveness in facing global challenges,” Dr. Ongkili continued.
Panellists for the Malaysia Energy Forum included:
- Dr. Maximus Johnity Ongkili, Minister of Energy, Green Technology and Water,
- Dr. Peter du Pont, Climate Change Team Lead, USAID Asia
- Ir. Dr. Sanjayan Velautham, Executive Director, ASEAN Energy Centre
- Mr. Frank Haugwitz, Director of Asia Europe Clean Energy (Solar), Advisory Co.
- Mr. Dan Millison, Manager of Transcendergy, LLC
- Forum Chair: Ir. Dr. Ahmad Tajuddin Ali, Non-Independent Non-Executive
Chairman of UEM Group and Chairman of ESOS Committee
ASEAN, which is comprised of 10 nations and home to approximately 625 million people, is believed to hold the greatest economic growth. It is estimated that there are 100 million people in ASEAN today who do not have access to electricity. This huge demand is expected to increase at an annual rate of 5.8% over the next 20 years, making access to clean and affordable energy of growing vital importance.
Drawing upon this demand as well as the theme of Future Energy for EXPO 2017, Malaysia believes there is huge potential in the ASEAN energy market. While energy transition is a megatrend adopted by many countries, in the ASEAN region coal and petroleum maintain strong foothold in the energy mix in both the electricity and transportation sectors.
Themed “Future Energy”, EXPO 2017 aims to create global debate between countries, non-governmental organisations, companies and the general public regarding the decisive impact that energy management has on the lives of people and that of the planet. EXPO 2017 will be held in Astana, Kazakhstan from 10 June to 10 September.