Brunei to balance fossil fuel with renewable energy
Brunei Darussalam wants a balancing of energy mix in fossil fuels and renewable energy to achieve the 45 percent reduction target in energy intensity by 2035.
Brunei's Minister of Energy Pehin Dr Awang Mohammad Yasmin Umar said this includes the use of energy efficient technologies and transforming its existing power generation to higher efficiency.
The journey in realising the target will complement the recent study by Mitsubishi Research Institute (MRI), which says Brunei can reduce its dependency on domestic fossil fuel supply by 63 per cent compared to business as usual.
The minister also touched upon the challenges at present faced by energy market development, with respect to energy security and sustainable development.
He said investments in research and development, especially in clean and renewable energy, will continue to play an important role in pursuing affordable and innovative solutions.
Brunei will also set up a funding mechanism for energy efficiency initiatives.