APEC leaders call for favorable conditions for trade in gas, nuclear energy development
BEIJING. Nov 11 (Interfax) - The leaders of APEC countries are calling for the creation of favourable conditions for trade in gas and investment in this sector, and support the effective development of nuclear energy, according to an appendix to the declaration adopted at the 22nd APEC summit.
The leaders urged member economies to create favourable conditions for trade in natural gas and liquefied natural gas (LNG), as well as investment in this sector, including by easing conditions regulating the final destination of shipments. They said that they support the save and efficient development of nuclear energy as a basic source of energy in interested economies.
The document states that APEC leaders agree on the need to increase energy efficiency and promote the use of clean and renewable sources of energy in the region. They said that they would aim to double the share of renewable energy in the energy balance of APEC countries, including in electricity generation, by 2030 compared to 2010.
The document also states that fossil fuels will continue to play a substantial role in the energy balance of the region in the medium and long term. The leaders urged APEC economies for which it is difficult to quickly switch from coal to alternative fuels to increase cooperation in development and application of clean coal technologies, such as high-efficiency coal-fired power plants and carbon capture and storage.
They also confirmed their commitment to reducing the energy-intensiveness of their economies by 45% by 2035 compared to the 2005 level, rationalizing and reducing subsidies for fossil fuels that encourage wasteful consumption, as well as to provide basic energy services to those in need.
Another appendix to the declaration states that the leaders acknowledge the need to promote the diversification of energy resources, as well as the use of market principles in competition and pricing that reflect the fundamentals of supply and demand in each country.
The leaders urge APEC members to forego protectionist and restrictive measures that might hinder the development of renewable energy technology and progress in this area.