Asian Energy Ministers' Meeting ends in Bangkok

BANGKOK, Nov 3 (TNA) – The 7th Asian Ministerial Energy Roundtable (AMER7) ended in Bangkok with productive discussion on oil and gas market trends and the impact of disruptive technologies on the energy future in Asia. 24 Asian energy producing and consuming countries and 11 leading International Organizations successfully concluded the AMER 7 on Thursday. The ministrial dialogue under the theme “Global Energy markets in Transition : From Vision to Action”, Secretary-General of the International Energy Forum (IEF) Sun Xiansheng said that moving from vision to action, depends above all on strengthening policy and technology cooperation to make carbon industry more efficient and clean in energy markets of Asia. Meanwhile, Saudi Arabia's Energy Minister Khalid Al-Falih expresses concerns about future energy security-especially in Asia, where demand is rising much faster than the industrialized economies. Without higher investment level, he said energy security could be affected and extensive investments in new alternative energy technologies which grows faster is also needed. With a brighter outlook on world economic growth, the 7th Asian Ministerial Energy Roundtable plenary sessions focuses on developments in oil, natural gas, renewable energy and technology markets and concluded on many key findings. Ministers noted that Asia is pivotal to secure, affordable and equitable energy transition pathways worldwide. The geoeconomic weight and demand growth of Asia as a whole reduces global market volatility and sets the pace for global transitions. Ministers reinforced their commitment to bring inclusive dialogue on the open and neutral platform of the International Energy Forum in closer association with all relevant international organizations and stakeholders to endure investment in fossil, renewable and nuclear complement each other in well-integrated and resilient markets. They called on the IEF to ensure that shared findings inform and help guide ministerial dialogue at the IEF16 Ministerial International Energy Forum, hosted by India in April 2018 and the next 8th Asian Ministerial Energy Roundtable that will be hosted by the United Arab Emirates in 2019. (TNA)