BIMSTEC and Energy Security

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.

• 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:

1. 1. Cyber Security,
   2. Green Hydrogen
   3. 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.