The Fifth Dialogue between the ASEAN Ministers on Energy Meeting (AMEM) and the International Energy Agency (IEA) was held on 22 September 2016 in Nay Pyi Taw, Union of Myanmar. The Meeting was co-chaired by H.E. Dr. Tun Naing, Deputy Minister for Electricity and Energy of Myanmar and the IEA Executive Director, Dr. Fatih Birol.
The ASEAN Ministers and the IEA Executive Director discussed current energy trends and their impact on the ASEAN region. In particular, the Ministers acknowledged the changing dynamics of the oil and gas markets, including the prolonged low oil price environment, the rebound in global oil and gas production unlocked by upstream technologies in oil and shale gas, and reduction in new investments in upstream exploration as well as volatilities arising from geopolitical factors and long-term market rebalancing. The Ministers looked forward to further analysis by the IEA, which will help ASEAN Member States in developing appropriate energy policies and strategies to respond to the changing energy landscape. ASEAN Ministers also welcomed the IEA’s new “open doors” policy towards deeper and wider-ranging collaboration with emerging economies in Southeast Asia.
Download the full Statement here.