Energy resources are in relative abundance in EAGA, in particular oil and natural gas. Other key energy resources include coal deposits and hydro-electric sources. Large deposits of coal can be found in East Kalimantan and in Sarawak, and considerable coal reserves are also known to exist in West Kalimantan and Sabah.
Access to reliable, clean, efficient and competitively-priced energy services is essential to achieving the ultimate goal of BIMP-EAGA, that is, to narrow the development gap across and within the EAGA member countries. Moreover, the provision of adequate energy infrastructures and services directly and indirectly supports its immediate goal of increasing trade, investments and tourism in the Subregion. In 2007, BIMP-EAGA adopted a strategy and action plan for the development both of conventional and renewable energy resources.
The BIMP–EAGA energy sector is a key cluster that offers large opportunity for cooperation in the subregion. The region holds significant energy resources and reserves that, if efficiently harnessed, will increase energy security and reduce dependence on energy imports.
The ultimate goal of BIMP-EAGA energy sector development and cooperation is to provide reliable, clean, efficient and competitively-priced energy services across the Subregion. Its immediate objectives, in accordance with ASEAN Vision 2020, are to:
- Establish interconnecting arrangements for electricity and natural gas within the Subregion mainly through the ASEAN Power Grid (APG) and Trans-ASEAN Gas Pipeline (TAGP); and
- Promote cooperation in energy efficiency and conservation, as well as the development of new and renewable energy resources.