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BIMSTEC and Energy Security
Context
Despite being abundant with resources and a developed energy sector, BIMSTEC countries are not much advance in generation and utilisation to provide affordable energy access to all.
About BIMSTEC:
- The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional multilateral organisation.
- BIMSTEC countries are home to 1.7 billion people with a combined GDP of $3.7 trillion.
- Its members lie in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity.
- Headquarters is situated in Dhaka, Bangladesh.
- Out of the 7 members, Five are from South Asia –
- Bangladesh
- Bhutan
- India
- Nepal
- Sri Lanka
- Two are from Southeast Asia –
- Myanmar
- Thailand
- BIMSTEC not only connects South and Southeast Asia, but also the ecologies of the Great Himalayas and the Bay of Bengal.
- It mainly aims to create an enabling environment for rapid economic development; accelerate social progress; and promote collaboration on matters of common interest in the region.
- The ADB (Asian Development Bank) has become BIMSTEC's development partner since 2005, to undertake a study which is designed to help promote and improve transport infrastructure and logistics among the BIMSTEC countries.
- So far, ADB has already finished the project so-called BIMSTEC Transport Infrastructure and Logistic Study (BTILS).
BIMSTEC energy Centre (BEC):
- India hosted the first meeting of Governing Board of BIMSTEC Energy Centre on February 27, 2023.
- BIMSTEC Energy Centre is situated in Bengaluru, India.
- Considering the current energy scenario in the region, the meeting recommended adding the additional following areas under the specialized Wings of BEC:
-
- Cyber Security,
- Green Hydrogen
- Energy Transition.
- In 2021, the initiative was reorganised into seven sectors.
Status of energy access in BIMSTEC countries:
- Bhutan has achieved 100 per cent energy access through off-grid energy sources.
- Nepal has achieved 78 per cent of energy access, while Bangladesh achieved 95 per cent of energy access.
- Myanmar reported its access to energy at 50 per cent in 2019.
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Sri Lanka, India, and Thailand have achieved 100 per cent or near 100 per cent energy access. |
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