1. The Twelfth Meeting of the ASEAN Economic Ministers on Energy Cooperation was held in Bandar Seri Begawan on 2 April 1994. The Meeting was preceded by the Twelfth Meeting of the ASEAN Senior Officials on Energy Cooperation held in Bandar Seri Begawan on 30 and 31 March 1994.

2. The Meeting was opened by His Royal Highness Prince Mohamed Bolkiah, representing His Majesty the Sultan and Yang Di Pertuan Negara Brunei Darussalam.

3. The Meeting was attended by H.E. Pengiran Dato Seri Paduka Dr Haji Ismail bin Pengiran Haji Damit, Minister of Development of Brunei Darussalam, H.E. Mr. I.B. Sudjana, Minister of Mines. and Energy of the Republic of Indonesia; H.E. Dato Seri S. Samy Vellu, Minister of Energy, Telecommunications and Post of Malaysia; H.E. Mr. Delfin L. Lazaro, Secretary of Energy, the Republic of the Philippines; H.E. Mr. Goh Chee Wee, Minister of State, Ministry of Trade and Industry of the Republic of Singapore; and H.E. Mr. Preecha Musikul, Deputy Minister of Science, Technology and Environment of Thailand and their respective delegations.

4. H.E. Dato Ajit Singh, Secretary-General of ASEAN and his delegation were also present.

5. H.E. Pengiran Dato Seri Paduka Dr. Haji Ismail bin Pengiran Haji Damit, Leader of the Brunei Darussalam delegation and H.E. Mr. I.B. Sudjana, Leader of the Indonesian delegation were unanimously elected Chairman and Vice-Chairman of the Meeting, respectively.

6. The Ministers were briefed by H.E. Mr. I.B. Sudjana on developments within OPEC.

7. The Ministers noted the progress of the activities of the ASEAN Council on Petroleum (ASCOPE).

8. The Ministers noted the decisions of the 25th ASEAN Economic Ministers (AEM) Meeting held in Singapore in October 1993 and the implications on ASEAN cooperation in the energy sector.

9. In view of the new priorities in economic cooperation the Ministers agreed that the programme of action for energy cooperation be revised. in

10. The Ministers recognised the role of energy in economic development and the importance of power development in the overall growth of the energy sector in ASEAN. The Ministers also agreed that concerted efforts should be made towards the implementation of energy cooperation in the field of power generation and utilization. They further agreed that power development be adopted as the theme for the Fifth ASEAN Summit in the area of energy cooperation.

11. The Ministers noted the significant progress achieved in the implementation of energy cooperation projects in the areas of coal, power utilities/authorities, new and renewable sources of energy, and energy conservation. In this respect, emphasis would be given towards the realisation of the ASEAN Power Grid and also on regular information exchange on power supply and demand situation among Member Countries.

12. The Ministers reiterated their support of the ASEAN Petroleum Security Agreement.

13. The Ministers agreed to review the Agreement on ASEAN Energy Cooperation to take into consideration the changes of ASEAN economic cooperation priorities and the prevailing regional and international economic scenario.

14. The Ministers noted with satisfaction the progress achieved by AEEMTRC and welcomed the decisions of the EC to support Phase 11 of AEEMTRC as well as providing funds for the study of Master Plan on Natural Gas Development and Utilisation in ASEAN.

15. The Ministers reviewed the progress on energy projects in cooperation with dialogue partners of ASEAN and agreed that all future project proposals should mutually benefit the dialogue partners and ASEAN particularly in relation to promotion of trade.

16. The Ministers reiterated that Member Countries should continue to participate in the meetings of the APEC Energy Officials and coordinate their positions on the matters addressed at these meetings.

17. The Ministers agreed to hold the next Meeting of the ASEAN Economic Ministers on Energy Cooperation in Denpasar, Indonesia in August 1995 and reiterated the need to hold the Ministerial Meeting annually prior to the Meeting of the ASEAN Economic Ministers.

18. The delegations of Indonesia, Malaysia, the Philippines, Singapore and Thailand expressed their sincere appreciation to the Government and people of Brunei Darussalam for the warm hospitality accorded to them and the excellent arrangements made for the Meeting.

19. The Meeting was held in the traditional ASEAN spirit of solidarity and cordiality.