JakartaPost-June 9, 2022
The Office of the Coordinating Economic Minister has vowed to focus on energy security in the first round of the G20 sherpa track working groups, as the war between Russia and Ukraine and sanctions imposed on Russia exacerbated an increase in global energy prices. During a press briefing at the ministerial office, Deputy Coordinating Economic Minister and G20 co-sherpa Edi Prio Pambudi said such an adaption of the agenda was needed to maintain the relevance of Indonesia’s G20 presidency for solving current challenges. Indonesia’s G20 presidency from the outset has been focused on three thematic pillars: strengthening the global healthcare architecture, digital transformation and energy transition. Edi explained that due to the war in Ukraine, some G20 member states were considering re-allocating a significant portion of their energy transition budgets to energy subsidies. Statistics Indonesia (BPS) data shows that crude-oil prices have increased 64.28 percent year-on-year (yoy) to US$103.4 per barrel (bbl), while natural gas prices have risen threefold to $32 per million British thermal units (mmbtu). “We could sense that the locals were anxious about the gas flow stopping. Imagine — the industry collapses — unemployment creates social unrest. This is currently happening in Europe,” Edi continued. As a result, he said, Indonesia as the G20 president was facing a severe challenge in balancing the need for energy transition as its main agenda point with the need for energy security, as even developed countries were beginning to change their priorities. Read more at:
https://www.thejakartapost.com/paper/2022/06/08/indonesia-shifts-g20-focus-to-energy-security.html.
