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02-Nov-2017 : PRESS RELEASE: THE IEF 7TH ASIAN MINISTERIAL ENERGY ROUNDTABLE

The IEF 7th Asian Ministerial Energy Roundtable 2017 (AMER7) was held on 2 November 2017 in Bangkok, Thailand and co-hosted by the Ministry of Energy, the Government of Thailand, and the United Arab Emirates with the support of the International Energy Forum (IEF). The AMER7, themed "Global Energy Markets in Transition: From Vision to Action," provides a platform for Energy Ministers, from both exporting and importing countries, as well as heads of international organisations to enhance policy dialogue and cooperation that underpin the global energy future.

The roundtable was officially opened by the welcoming remarks from His Excellency Air Chief Marshal Prajin Juntong, Deputy Prime Minister of Thailand, where His Excellency highlighted Asia's crucial role in the global energy market, and how the region can play a leading role in shaping the global energy direction. In addition, His Excellency also announced "Thailand's Integrated Energy Blueprint" formulated by the Ministry of Energy of Thailand as the main plan in driving the country towards energy security, economic prosperity and environmental sustainability.

In his remarks, the Minister of Energy and Industry at the Prime Minister's Office, Yang Berhormat Pehin Datu Singamanteri Colonel (Rtd.) Dato Seri Setia (Dr.) Awang Haji Mohammad Yasmin bin Haji Umar, stated among others, the importance of innovative policies that would encourage the use of natural gas as a clean, reliable source for industries and power generation. In addition, industries need to be incentivised to make natural gas supply more affordable by driving down gas development costs through technological advances. This is intended to increase market penetration for gas, and increase its competitiveness against other fuel sources, such as coal and renewables.  Energy cost needs to be carefully balanced with government policies as it could impact the economic growth of developing countries. Brunei Darussalam remains committed to natural gas production and its customers through continued commitment in rejuvenating its upstream and downstream facilities to ensure reliability of supply to its existing and future customers for the next 30 years.

The Roundtable consisted of four plenary sessions, starting with the investment and security challenges in the oil market, followed by the market and policy hurdles to the golden age of gas, disruptive technologies that impact the energy future and closed with the final session on turning "Vision to Action," which was the main theme of the AMER7. 200 participants across 24 countries and 11 international organisations attended this year's Roundtable. The next Asian Ministerial Energy Roundtable will be held in 2019 in Abu Dhabi, United Arab Emirates.

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