Thai Gov't Sees LTMS-PIP Energy Cooperation Boosting Regional Growth
By Kenny Teng
BANGKOK, Sept 24 (Bernama) -- The Thai government views growing energy cooperation, based on mutual understanding and shared goals, as a vital step towards bolstering regional energy security and economic growth under the Laos-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP).
In a statement released after a Cabinet meeting, the government highlighted the progress made in the fifth edition of the joint statement on the LTMS-PIP, which outlined key milestones and future objectives as the project has marked significant advances in multilateral electricity trading across Southeast Asia.
The Royal Thai Government emphasised that this collaboration will be highly beneficial to Thailand’s energy sector, aligning with the country's potentials and contributing to environmentally sustainable economic growth.
"While the draft documents provide broad strategies for future cooperation, they do not include any binding commitments, allowing each participating country the flexibility to adapt actions in line with its national policies and capabilities," according to the statement released on Tuesday.
It said the joint statement on the LTMS-PIP also acknowledges the achievements of the previous four editions of the LTMS-PIP, particularly in celebrating the success of the initial phase.
"This phase saw the first multilateral electricity trade between Malaysia and Singapore, which the government described as a critical step in the broader LTMS-PIP framework, aimed at enhancing regional energy integration and cooperation," it added.
The Thai Ministry of Energy has allocated funds for the fiscal years 2024 and 2025 to support international negotiations, meetings, and energy cooperation projects with partner countries.
"These resources will drive operations related to the five key documents under the ministry’s purview, further reinforcing energy collaboration across borders," the statement added.
The ministry noted that the draft documents reflect a collective commitment to promoting energy cooperation among ASEAN-member states and international partners with the goal of supporting the sustainable use and development of energy during the global energy transition while prioritising the enhancement of regional energy security.
-- BERNAMA
