For Immediate Release
Office of the Press Secretary
October 21, 2003
Fact Sheet
Energy Security Initiative
Presidential Action
- President Bush and the Other APEC Leaders endorsed today an action plan to enhance energy security in the Asia-Pacific region.
APEC Energy Action Plan: APEC Leaders launched today a U.S.-driven
initiative to enhance the region's energy security by committing to:
- Expand the trade of natural gas, particularly liquefied
natural gas (LNG), by creating an on-line Gas Market Data System and
sharing of best practices. APEC members account for 62 percent of the
world's natural gas production, 56 percent of its consumption, and 56
percent of its exports. The Asia-Pacific is the heart of the global
LNG market, with half of the world's exports and 70 percent of
imports.
- Strengthen energy emergency response planning and establish a
real-time information sharing and coordination system. Leaders also
committed to the continued development of strategic oil stocks and
other response mechanisms.
- Promote investment in clean and efficient energy sources and
technologies in cooperation with the private sector and financial
institutions.
- Identify opportunities to develop hydrogen and
fuel cell technologies and cooperate with the International Partnership
for the Hydrogen Economy, a U.S.-led initiative that aims to put
competitively priced hydrogen cars on the market by 2020; and
- Promote collaborative research on methane hydrates, an important futuresource of natural gas.
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