About the Energy Security Initiative
The APEC Energy Security Initiative (ESI) is an overarching policy initiative of the APEC Energy Working Group (EWG) that seeks to address the energy challenges facing the APEC region.
The 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 emergency response mechanisms
- long-term measures—include facilitating energy trade and investment, natural gas (including LNG) trade, energy efficiency, clean fossil energy (including carbon capture and geological sequestration), renewable energy, and hydrogen and fuel cells.
The ESI was established in September 2000 following considerations given by APEC Senior Officials around action possibilities to respond to oil price volatility.
Recommendations were sought from the APEC EWG about ways regional energy security could be strengthened.
Following a series of workshops the working group developed the initiative, and provided the initial endorsement in September 2001. The initiative was endorsed for a second time by APEC Economic Leaders in October 2001 (see Related documents).
Since its establishment, the ESI has been reviewed, enhanced and expanded. The initiative was most recently enhanced and expanded in November 2004, when APEC Economic Leaders endorsed the CAIRNS Initiative (see Related documents) to strengthen the ESI under the themes of energy security, sustainable development and common prosperity.
For more information about the Energy Security Initiative, go to the APEC Energy Security Initiative website.