ENERGY SECURITY EVENTS
Policy Considerations for Energy Trade and Investment in APEC
This paper was written in response to a request from APEC Energy Ministers "to identify significant barriers to APEC energy trade and investment and help member economies improve their capacity in removing these barriers." The paper provides an outline of the energy sector in APEC, and provides strategies to attract the $7 trillion in energy investment that APEC economies will need by 2035.
For further information on the National Center for APEC's work on energy security, please contact Barbara Hazzard.
APEC economies account for approximately 60 percent of world energy demand and 55 percent of global energy production. As such, energy security is a top concern among APEC policymakers –and its importance will only grow in the years ahead. According to the International Energy Agency (IEA), global energy demand will increase by 40 percent between 2007 and 2030, making public and private sector engagement essential to ensure economies can meet that demand.
As the largest net importer of energy in the world, APEC economies have a unique opportunity to identify collaborative regional policy goals designed to strengthen long-term energy security in the region. These factors have made energy cooperation an imperative agenda item for APEC officials.
For a detailed overview of the region’s energy forecast, please see the 6th annual APEC Energy Demand and Supply Outlook report published by the APEC Energy Research Centre.
Coordinating U.S. Private Sector Priorities and Advocating for Energy Security
NCAPEC's Energy Policy Support Group (EPSG) brings together representatives from the energy industry to identify the issues and barriers that contribute to regional disparities between energy supply and demand. The EPSG facilitates direct engagement between the public and private sector to discuss energy security challenges and identify potential solutions for APEC officials’ consideration.
Since the EPSG was established, NCAPEC has organized and participated in numerous high level programs and developed strategic analysis on energy-related issues. As one example, the EPSG commissioned the publication and subsequent update of the Strategic Framework for Energy Security in APEC, which lays out the core principles around which APEC can build a multi-year initiative to promote regional energy security. The report contains four major areas of focus: energy supply and diversity, managing energy demand, promoting conservation and efficiency, and clean energy technologies. Since its publication, NCAPEC has taken these recommendationsand built a multi-year agenda of workshops and conferences tied to the APEC meeting agendaIn 2015, NCAPEC, through the EPSG, coordinated the drafting of the paper, Policy Considerations for Energy Trade and Investment in APEC. The paper was developed at the request of APEC Energy Ministers to identify significant barriers to APEC energy trade and investment, and to help member economies improve their capacity to remove these barriers. The paper identifies strategies economies can use to attract the $7 trillion in energy investment that APEC economies will need by 2035.
Collaborating with U.S. Government Officials, International Institutions, and APEC Officials
Representatives from the U.S. energy industry participate in the public-private energy security roundtable in Saint Petersburg.
NCAPEC acts as a conduit for the U.S. private sector to convey their priorities to U.S. government officials, including officials with the U.S. Department of Energy, U.S. Trade Representative, and other agencies. NCAPEC also closely monitors the work of APEC's Energy Working Group (EWG) and provides input and feedback on the EWG's initiatives. Through its engagement, NCAPEC seeks to identify and develop opportunities for public-private cooperation on APEC energy initiatives.
NCAPEC also uses its established relationships with the Asia Pacific Energy Research Centre to raise and promote U.S. private sector objectives in APEC.
Advancing U.S. Business Priorities in the APEC Business Advisory Council
NCAPEC serves as the Secretariat for the three U.S. executives appointed by the U.S. government to serve on the APEC Business Advisory Council (ABAC). In this role, NCAPEC works with U.S. ABAC members to engage in initiatives and dialogues designed to convey the international energy sector’s priorities to APEC officials, and build strategic partnerships with foreign governments.
NCAPEC recently worked with ABAC members to develop the 2015 paper, Policy Considerations for Energy Trade and Investment in APEC. Recommendations included in the paper were endorsed by ABAC and became the foundation for ABAC’s policy recommendations to energy minsters and APEC Leaders.