KUALA LUMPUR: Countries in Asia must explore options to improve energy efficiency and affordability by diversifying its energy mix, says Tun Dr Mahathir Mohamad.
The Prime Minister said this is in order for Asia to further develop as the world is confronted with increased concerns over the sustainability of global economic growth in the face of rising financial, political, social and environmental challenges.
Dr Mahathir said Asia, however, continues to position itself as a dynamic and vibrant market despite facing common challenges in the rising demand for energy, expanding energy access and meeting climate commitments.
"Although reliance on fossil fuels is expected to remain intact, Asia has made great strides in utilising less carbon-intensive fossil fuels such as natural gas.
"Malaysia is among the largest exporters of liquefied natural gas (LNG) to countries such as Japan, South Korea and Taiwan, to provide power for their economies.
"Also, renewable energy is seen to have doubled in the region in five years with China and India leading the pace," he said in his keynote address at the Asia Oil and Gas (AOGC 2019) conference Monday (June 24).
Dr Mahathir said that countries in Asia must recognise the potential of its neighbours to forge strategic alliances on the back of a "Prosper-Thy-Neighbour" policy that promotes the concept of shared prosperity.
"Only then can we forge a new energy future that is sustainable and secure for generations to come," he said.
The premier added that the two-day AOGC that the presence of the captains in this field to seriously enter into strategic dialogue on the challenges facing the industry, especially the possibility of opening new avenues for collaboration that tap into the knowledge and expertise of other sectors aimed at innovating new energy solutions.
More than 4,000 delegates from 34 countries are participating in the AOGC.
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