In a meeting held last June between Japan and energy ministers from ASEAN countries, it was concluded that Japan would invest $10 billion to support the ASEAN Plan of Action for Energy Cooperation (APAEC) <\/strong><\/span> in its second phase from 2021 to 2025. This initiative aims to ensure the sustainability of the energy industry in ASEAN, which has a combined population of over 655 million and an electricity access rate of 89%.

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                  Source: Asean Center for Energy (aeds.aseanergy.org)<\/p>

                  The meeting focused on the role of the ASEAN Center for Energy<\/strong><\/span> as a facilitator for cooperation between ASEAN countries and Japan. It also discussed the challenges faced by ASEAN nations in transitioning their energy systems and reducing carbon emissions. These challenges stem from geographical differences and the unique circumstances of each ASEAN country, many of which still rely heavily on coal, oil, and gas.

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                  Source: Asean Center for Energy (aeds.aseanergy.org)<\/p>

The main objectives of the second phase of APAEC will focus on developing gas exchange markets, advancing clean coal technology (CCT), carbon capture, utilization, and storage (CCUS), supporting the use of renewable energy, assisting energy transitions in various ASEAN countries, and enhancing the capabilities of personnel in the renewable energy sector.

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            Ultimately, Japan proposed the Asia Energy Transition Initiative (AETI)<\/strong><\/span>, which includes a plan to provide $10 billion in funding to ASEAN countries for projects related to energy transition. In the upcoming meeting between Japan and ASEAN nations in October, we can expect to see more concrete strategies and policies.

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