H.E. Rafael Mariano Grossi, Director General of the International Atomic Energy Agency (IAEA), opened the afternoon session with a Special Address, exploring nuclear energy's evolving role as a low carbon energy solution. His insights offered a compelling view of nuclear energy's potential in addressing global emissions reduction goals.
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Following his presentation, Yang Mulia Dato Seri Paduka Awang Haji Mohamad Azmi bin Haji Mohd Hanifah, Deputy Minister (Energy) at the Prime Minister’s Office, Brunei Darussalam, delivered a Keynote Address. He emphasised the need for each country to tailor their energy transition strategies to their unique opportunities and constraints, highlighting the importance of context-specific approaches.
The evolving role of nuclear energy in the global energy mix
H.E. Mr Grossi highlighted the shift in global attitudes towards nuclear energy. He shared that historically, there was a "disconnect between the climate change world and the energy world, even though nuclear was providing a quarter of the world's low carbon energy... That disconnect is over. We now have a clear global consensus that more nuclear power will be needed to reach net zero".
He remarked that the forecast for nuclear capacity is promising. In a high-case scenario, nuclear capacity is forecasted to be two-and-a-half times greater than today's levels. Even in a low-case scenario, nuclear capacity is expected to grow by 40 percent. H.E. Mr Grossi concluded by emphasising that nuclear energy has the potential to serve as the foundation for clean energy systems worldwide.
Brunei Darussalam's tailored approach to the energy transition
Yang Mulia Dato Seri Paduka Awang Haji Mohamad Azmi bin Haji Mohd Hanifah focused on Brunei Darussalam's approach to the energy transition. He noted the importance of balancing decarbonisation efforts with protecting national interests as an oil-exporting nation. One of the key opportunities lies in liquefied natural gas (LNG), which Brunei views as a crucial transition fuel.
The Deputy Minister (Energy) also stressed the importance of collaboration in the State's energy strategy. "Brunei Darussalam showcased the power of collaboration when we hosted and partnered with Japan for the first global hydrogen supply chain demonstration," he shared.
Additionally, regional cooperation is a cornerstone of Brunei’s energy strategy, with efforts such as the Power Integration Project (PIP) with Malaysia, Indonesia, and the Philippines enhancing regional grid interconnectivity. This lays the groundwork for incorporating more sustainable energy sources into the region’s energy mix.
The session highlighted the significance of collaboration, innovation, and tailored strategies in building a connected and sustainable energy world. As countries like Brunei Darussalam explore new pathways through LNG and regional partnerships, and as nuclear energy gains recognition as a vital component of the net zero journey, the global energy landscape is evolving towards greater interconnectivity. The path to a sustainable future hinges on cross-border cooperation and embracing diverse energy solutions to meet the challenges ahead.
Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.