We, the Ministers/Heads of delegations of the People’s Republic of Bangladesh, the Kingdom of Bhutan, the Republic of India, the Union of Myanmar, the Kingdom of Nepal, the Democratic Socialist Republic of Sri Lanka and the Kingdom of Thailand gathered in New Delhi, India, on 4th October 2005 for the first BIMSTEC Ministers’ Conference on Energy Cooperation,
Recalling the agreement at the first BIMSTEC Summit held on July 3 pt 2004 at Bangkok to promote sustainable and optimal energy utilization through development of new hydrocarbon and hydropower projects, interconnection of electricity and natural gas grids, energy conservation, and renewable energy technologies,
Taking note of the recommendations of the 5th Meeting of Experts/ Officials in BIMSTEC Energy Sector held on January 27, 2005 at Yangon,
Resolving to further our joint efforts to pursue the goal of providing secure, reliable and affordable energy to our people which is fundamental to economic growth, realizing our development potential and improving living standards,
Agree to a vision of BIMSTEC Trans Power Exchange and Grid Interconnections by developing country to country grid interconnections, to ultimately enable flow of electricity across the BIMSTEC region, Agree Agree to evolving a common regulatory framework for developing grid interconnections to turn the above vision into reality.
Agree to evolving a common regulatory framework for developing grid interconnection to turn the above vision into reality.
Agree that the concept of Trans BIMSTEC Gas Pipeline(s) would further enhance the objective of providing the region with a secure supply of energy and would contribute to the social and economic development of member countries,
Recognize the need for detailed feasibility studies and techno-economic agreements between and among participating countries to allow for the optimal utilisation of the resources of the region.
Reiterate that all hydro power projects, irrespective of their size, are clean and renewable sources of energy and recognize that developing the hydro potential of the BIMSTEC region would facilitate economic development of the concerned area in particular and the region in general,
Resolve to develop the full hydro-power potential of the region ensuring that concerns of rehabilitation and environment are addressed adequately,
Agree to share and strengthen our capabilities in the field of planning, design and construction, operation & maintenance and renovation of hydro power stations,
Appreciate the ongoing cooperation among the member countries for development of various hydro projects and call upon all the member countries to further enhance cooperation.
Recognize that BIMSTEC region offers an excellent opportunity for development and promotion of non- conventional sources of energy for enhancing energy security with sustainable development with significant potential for CDM projects and express appreciation for the on going cooperation in this area,
Agree to develop institutional linkages among the member countries to facilitate joint R&D activities for development of cost effective technologies.
Recognize that improvement in energy efficiency has significant benefits for economic growth and competitiveness of our economies, and realizing that buildings, domestic appliances and transport, in addition to certain industries, are the areas to focus upon as these offer maximum potential for energy conservation, agree to
— sharing of existing policies, programmes and capabilities of the member countries and networking of relevant institutions,
— developing and harmonizing ‘Standards and Labelling’ in BIMSTEC countries.
Agree to enhance energy security through optimal development of energy resources of the region namely, oil, gas, hydro power, coal, bio-fuels and other non-conventional energy resources.
Agree to share the available expertise for coal exploration and mining, for hydro power development, for development of hydrocarbons and for developing non-conventional energy resources and to pool our strengths for capacity building in all areas of energy sector.
Agree to share our experience in reforms, restructuring, regulation and best practices in energy sector. To attain this objective, we agree to setting up of a BIMSTEC Centre of Energy.
We also recognize the need for and possibilities of fruitful cooperation in energy sector with other regional organizations.