Australia Highlights Asia Pacific Partnership To Boost Energy Security
The Minister for Resources and Energy, Martin Ferguson AM MP, has told business leaders that a technology-based partnership across the Asia Pacific will consolidate the role of fossil fuels in a lower-carbon energy mix.
Minister Ferguson said the challenge of energy security meant global demand for gas and coal would continue to rise and that there is an urgent need to find the right technology to reduce the CO2 emissions generated.
Minister Ferguson was addressing a joint conference of the Australia-Taiwan Business Council and the Republic of China-Australia Business Council in Sydney. The audience included a delegation led by Mr Edward Chen, Chairman of the Taiwan Power Company and Chairman of the Republic of China-Australia Business Council.
Minister Ferguson said: “Energy security in a carbon-constrained global economy is the defining issue of our time.
“The Australian Government is crafting a sensible, balanced policy framework to bring about a broad suite of viable energy technologies. Working with our partners in the Asia Pacific region, that broad suite includes carbon capture and storage technology on an industrial scale.”
Minister Ferguson recently visited Shanghai for the third Asia Pacific Partnership on Clean Development and Climate where he said there was great interest in Australia’s investment in carbon capture and storage among our trading partners.
“Even with the welcome growth of renewable energy, fossil fuels will continue to play an important role in Australia’s energy security and economic prosperity.” he said. “That’s why the Australian Government’s $2 billion Carbon Capture and Storage Flagships program is vital.
“By reducing the emissions from coal and gas-fired electricity, we consolidate their place in the energy mix of the future. Frankly, the global community will be hard-pressed to reach our climate change targets without it – and this has been acknowledged by the International Energy Agency.”
Minister Ferguson paid tribute to Australia’s strong trading relationship with the Asia Pacific region and said changes to Australia’s foreign investment system would encourage further trad
Topics: Asia, Australia, Australia-Taiwan Business Council, carbon, carbon constrained global economy, clean energy, CO2, coal, emissions, energy, Energy Security, environment, fossil fuels, gas, global demand, Governance, Pacific, renewable energy, Republic of China-Australia Business Council, Sydney, Taiwan Power Company, technology
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