The Department of Industry, Innovation and Science contributes to the Asia-Pacific Economic Cooperation (APEC) Energy Security Initiative (ESI) through data and information sharing on a range of energy policy issues.
APEC energy cooperation is conducted under the framework of the ESI which was first put forward by the APEC Energy Working Group (EWG) in the year 2000. The objective of the ESI is to prepare the region for potential energy supply disruptions and subsequent impacts on economic activities.
The APEC ESI comprises a series of short-term measures to respond to temporary energy supply disruptions, and longer-term measures to address broader energy challenges.
Short-term measures include:
- improving transparency of the global oil market
- maritime security
- implementing a real-time emergency information sharing system
- encouraging Member Economies to have emergency mechanisms and contingency plans in place
Long-term measures facilitate investment, trade and technology cooperation in:
- energy infrastructure
- natural gas (including LNG)
- energy efficiency
- clean fossil energy (including carbon capture and geological sequestration)
- renewable energy
- hydrogen and fuel cells
Key initiatives APEC ESI