THE SCOPE OF SUB-REGIONAL ENERGY COOPERATION IN SOUTH ASIA IN THE PERSPECTIVE OF EMERGING GLOBAL ENERGY SECURITY ARCHITECTURE

Authors

  • Director General Shah Ahmed Shafi, ndc NDC

Keywords:

ENERGY COOPERATION

Abstract

Energy security is defined as the ability of a nation to secure sustainable energy
supplies to meet its energy needs at reasonable prices has thus become a major
energy policy imperative. Energy security is the association between national
security and the availability of natural resources for energy consumption. Access
to cheap energy has become essential to the functioning of modern economies.
The uneven distribution of energy supplies among countries has led to significant
vulnerabilities. Therefore, a growing number of countries around the world,
particularly in the west are coming under regional and international energy charter and energy security umbrella to ensure smooth energy supply as well as to govern
the global energy regime to secure their long-term energy need. And among the
South Asian countries there is a wide variation in energy resource endowments
and energy demand to fuel their rapid economic growth. While India, Pakistan
and Bangladesh account for the major natural gas and coal resources, Nepal and
Bhutan have large hydropower resources. Further, all the countries have vast
renewable energy potentials. Taping and trading of these huge resources would
ensure more optimal energy security solutions for the entire South Asia region
in the backdrop of the global energy governance. The countries need enhanced
and efficient regional energy transfer to leverage economies of scale through
a more vibrant intra and inter regional energy production and trade structure.
Key issues faced in energy sector cooperation in South Asia are centered on the
need to develop: (i) a regional power and energy infrastructure; (ii) an efficient
production capacity and management; (iii) a regional power market; (iv) energy
supply availability; and (v) harmonized legal and regulatory frameworks. Energy
cooperation is a main focus of the South Asia Sub-regional Economic Cooperation
(SASEC) program. The establishment of ongoing and proposed new power
transfer links between Bangladesh and India, India and Sri Lanka and between
India and Pakistan would further strengthen the regional energy cooperation
and power trade. The overall context for regional energy cooperation in South
Asia has undergone a change in the past few years. A window of opportunity
has now opened up due to a shift in the regional political and policy mindset
that has caused countries to look outward for advancing their energy security
needs. There is broader recognition that energy trade is better for energy security
and helps diversify a country’s energy base through mutual dependence. On
contemplating this reality all the SAARC and BIMSTEC countries must establish
an energy network or multiple networks of energy production and supply chain.
As economic powerhouse and technologically advanced country in the proximity
China is very critical to provide finance and expertise & technical knowhow.
Sitting on the corridor between South and South East Asia, and South and Far
East Asia, particularly China, Bangladesh should take a pivotal role in the energy
cooperation of the economically fastest growing region of the world. Like China,
Japan and South Korea could also provide critical and necessary supports to the
energy growth of this region. Bangladesh’s proactive and innovative diplomacy
in relations with all the countries of the region and beyond, and above all the
geopolitical advantage as located at the cross-road of three distinct region give it a
unique opportunity to strive rapid economic growth through connectivity, trade,
and energy cooperation.

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Published

2017-12-30

How to Cite

Director General Shah Ahmed Shafi, ndc. (2017). THE SCOPE OF SUB-REGIONAL ENERGY COOPERATION IN SOUTH ASIA IN THE PERSPECTIVE OF EMERGING GLOBAL ENERGY SECURITY ARCHITECTURE. NDC E-JOURNAL, 16(2), 88-113. Retrieved from https://ndcjournal.ndc.gov.bd/ndcj/index.php/ndcj/article/view/216