Select Language



The Global Energy Prize annually honors outstanding achievements in energy research and technology from around the world that are helping address the world’s various and pressing energy challenges.

EEF-2018: Scientists will lead the regional energy dialogue

The panel session "Energy Cooperation in Northeast Asia" was held at VEF-2018 on September 11. International experts, heads of scientific institutes and leaders of organizations assessed the prospects for energy cooperation in the region and determined the mechanisms for its activation. The Global Energy Association has organized the session.

The experts concluded that a common energy market creation is a question of the fundamental importance for the countries of the region and that it would stimulate the solution of issues of energy security, ensuring peace and sustainable economic development.

Rae Kwon Chung (South Korea), Global Energy Prize International Award Committee member and the Nobel Peace Prize laureate, noted that regional energy market creation would open up long-term opportunities for the energy suppliers and consumers, create the necessary infrastructure and additional energy facilities. Thus, it is essential to begin the process of energy integration, which will solve the energy poverty problem. The expert emphasized that all countries of the region would benefit from the common energy market, while Russia as the primary energy supplier would lead the integration process. "Russia has a huge potential for energy resources export. The world share of primary energy production in Russia is 10.4%, while its energy consumption share in 2017 was only 5.2%," the speaker summed up.

Oleg Budargin, Global Energy Association Board of Trustees member, vice-chairman of the World Energy Council, agreed with Rae Kwon Chung about Russia's role in the energy integration of the region. The expert is convinced that Russia’s advantage lays not only in the electricity surplus but also in the availability of an appropriate technological base and the accumulated experience of integration processes. In addition, Russia has got the most competitive price for electricity among Northeast Asian countries – 0.07 $ / kWh, while Chinese price is 0.11 $ / kWh, Japanese – $ 0.28 / kW ·h, and South Korean is 0.08 $ / kWh.
Oleg Budargin also noted that the integration process of creating a single energy market between Northeast Asian countries is a very timely process for Russia, since it corresponds to an important task – the transition to a new technological cycle that was designed to ensure a high quality of life with an obligatory component in the form of affordable energy.

Expanding the idea and importance of creating a single energy market, Liu Hongpeng, Director of the Energy Division, The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), from Thailand, noted that significant projects such as the Asian energy ring and large gas pipelines would help the energy market function effectively. UN ESCAP is ready to facilitate political dialogue between countries and to ensure the technical viability of such projects. Wang Jun, Senior Engineer, Electric Power Planning & Engineering Institute (EPPEI), made an additional proposal for the implementation of the "Asian super grid." In his turn, Yeren-Ulzii Batmunkh, Head of Investment and Production Division, Ministry of Energy of Mongolia, marked the perspectives of Mongolian Government on the potential of Mongolia in generating renewable energy and need for power connectivity and energy trading scheme.

Lee Bu Young, Honored President, Peace Asia from South Korea, stressed that "achieving political consensus and establishing peace processes are the prerequisites for building a regional energy market." Park Chan Mo, Pyngyang University of Science and Technology Chancellor, spoke about new opportunities for energy cooperation in Northeast Asia due to the beginning of peace processes on the Korean peninsula.

Panel members decided that it is necessary to create a permanent multilateral platform for the energy dialogue. The regional Dialogue Forum in Northeast Asia will become such a platform. It will help to support the creation of infrastructure projects (such as the Asian super grid and natural gas pipelines). Scientists will play the leading role in this dialogue, since they, being developers of advanced solutions, can offer the new technological approaches and economic models that will bring integration processes to a new level.
Rae Kwon Chung noted that the best scientists would unite to solve the regional energy problems. Global Energy Association could make an extremely valuable input, as it annually awards the world’s leading scientists who have made an essential contribution to the development of the global energy industry. Also, The Global Energy Association has accumulated invaluable experience in organizing international discussion platforms and conducting events at the global level.

The Eastern Economic Forum is a unique international communication platform for interaction between representatives of business, political circles, expert and media communities in Russia and the Asia-Pacific region countries. The key theme of EEF-2018 is "The Far East: Expanding the Limits of Opportunities."

Developed by Brickwall