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Minister on the Prime Minister’s Workplace and Minister of Defence II Pehin Datu Lailaraja Main Common (Rtd) Dato Paduka Seri Haji Awang Halbi bin Haji Mohd Yussof yesterday highlighted the Sultanate’s very important transfer towards power transition throughout his keynote tackle on the launch of the Vitality Seminar ‘A Simply Vitality Transition In the direction of Inexperienced and Sustainable Improvement in Southeast Asia’ at the side of the Brunei Mid-Yr Convention and Exhibition 2023 (Brunei MYCE 2023).
The minister shared that power transition doesn’t simply require a whole-of-nation method, nevertheless it additionally warrants regional collaboration. He was referring to the Authorities of His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam’s steps to advance the nationwide photo voltaic power goal of 200 megawatts by 2025, and a minimum of 30 per cent of the ability era combine by 2035.
The Sultanate is presently exploring the potential of renewable energy-based connectivity by interconnection with neighbouring nations, he mentioned.
“Brunei Darussalam hears the decision that oil and fuel will nonetheless be an necessary a part of the regional power combine, particularly to gas power transition. The nation recognises the necessity to contribute to the rising oil and fuel demand to make sure continued market stability; regionally and globally,“ the minister mentioned.
Oil and fuel, he mentioned, will proceed to play a vital position within the nationwide power safety for many years to return, by driving financial development and advancing power transition efforts.
It is very important promote the upstream oil and fuel improvement. Whereas continued funding within the upstream sector is essential, funding in mitigating the emissions from the sector can be wanted for attaining internet zero objectives, he mentioned.
The minister thus known as on oil and fuel business gamers to play their half in realising the power transition.
He outlined three key steps of emissions mitigation: minimise emissions by software of renewable or cleaner various power; optimise present operations to decrease each carbon and methane emissions; and seize emissions by growing the mandatory capacities and capabilities in carbon seize and storage (CCS).
The nation may even develop a regulatory framework that may promote software of CCS.
Southeast Asia, he mentioned, “is among the many quickest rising financial areas with regional power demand that’s anticipated to triple by 2050 from 2020 ranges. As projected within the seventh ASEAN Vitality Outlook, the demand for oil and pure fuel is anticipated to extend, dominating over 50-per-cent share of ASEAN’s power combine in 2050 eventualities. On the identical time, the area is certainly dedicated in the direction of Internet Zero with most already taking a pledge on high of their respective nationally decided contributions (NDCs).
“ASEAN’s well-known aspirational goal is to extend the element of renewable power to 23 per cent by 2025 within the ASEAN power combine. In addition to that, the area has a excessive stake being probably the most susceptible areas to local weather influence“.
A simply power transition within the ASEAN area requires recognising the varied financial improvement of every nation and pursuing distinctive pathways in the direction of widespread Internet Zero objectives.
The minister believes that it’s crucial to prioritise pragmatic transitional options that promote equitable progress, power safety, and emissions mitigation.
“As we work in the direction of a sustainable future collectively, we should prioritise the supply and accessibility of technological and monetary options to mitigate oil and fuel emissions. To help the area in doing so, collaboration with superior ASEAN dialogue companions change into essential in accessing the mandatory expertise and funding at an accelerated tempo,” the minister added. – James Kon
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