From 25-27 September, the 24th Energy Business Forum (AEBF-24) took place in conjunction with the 42nd ASEAN Minister and Meeting (AMEM-42) in Vientiane, Laos, under Laos’ ASEAN chairmanship theme of “Enhancing Connectivity and Resilience.”
The summit was well-attended by energy ministers and industry experts from ASEAN member states as well as external partners to include Australia, Japan, and the United States. As reported in the AMEM-42 Joint Ministerial Joint Statement, the meetings covered key regional energy priorities such as practical decarbonization, energy security, energy efficiency, emerging technologies, and grid connectivity. The ASEAN Center for Energy (ACE), in partnership with member state officials and experts, also used the platform to update and launch multiple regional platforms for cooperation.
AEBF saw the launch of ACE’s 8th ASEAN Energy Outlook (AEO8) Report and resurfaced the ASEAN Plan of Action for Energy Cooperation (APAEC) Phase II: 2021-2025. The framework notably promotes the ASEAN Power Grid (APG), which has been recently bolstered by an enhanced Memorandum of Understanding (MoU) and Terms of Reference (ToR) to support multilateral power trade. Some energy economists raise concerns about the challenges of an interconnected system in ASEAN, as many member states are power producers, fostering competition rather than cooperation. Yet establishing clearer mutual benefits and obligations among member states in tandem with the proliferation of renewables should demonstrate why the APG and other regional initiatives discussed at AEBF are for the collective good both economically and environmentally.
