Energy Security Initiative
The APEC Energy Security Initiative (ESI) comprises a series of short-term measures to respond to temporary energy supply disruptions, and longer-term measures to address the broader energy challenges facing the APEC region.
Short-term measures include improving transparency of the global oil market, maritime security, implementing a real-time emergency information sharing system and encouraging Member Economies to have emergency mechanisms and contingency plans in place.
Long-term measures include facilitating 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 and hydrogen and fuel cells.
The ESI Factsheets decribe each of the short and long term measures implemented under the ESI.
Energy Security Initiative - Development
In September 2000, APEC Senior Officials considered what action APEC could take to respond to oil price volatility, and directed the EWG to analyse the situation and make recommendations on ways to strengthen regional energy security. Following a series of workshops the EWG developed the APEC Energy Security Initiative, which was endorsed by the EWG in September 2001, and by APEC Economic Leaders in October 2001.
The ESI has also been reviewed, enhanced and expanded over time:
- At their 5th Meeting in July 2002, APEC Energy Ministers endorsed a series of Recommendations to expand the ESI. This was noted by APEC Economic Leaders in October 2002, who identified the ESI as one of a number of APEC activities to advance counter-terrorism commitments. In October 2003, APEC Economic Leaders endorsed an Implementation Plan and an APEC Action Plan as mechanisms to accelerate implementation and further enhance the ESI.
- At their 6th Meeting in June 2004, APEC Energy Ministers issued a Declaration which included a number of new ESI directions under the themes of preparing for energy supply disruptions, facilitating energy investment, using energy more efficiently expanding energy choices and capitalising on technological innovation.
- The ESI was further enhanced and expanded in November 2004, where APEC Economic Leaders endorsed the CAIRNS Initiative to strengthen the ESI under the themes of energy security, sustainable development and common prosperity.
APEC Peer Review on Energy Efficiency (PREE) - "Common Format for the Compendium of Energy Efficiency Policies of APEC Member Economies"
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