21 July 2015. Honolulu, Hawai’i – Despite progress to transform the energy systems of Pacific Island countries and territories by increasing the use of renewables, the region’s dependence on fossil fuels will not disappear overnight.
This is the message from the Secretariat of the Pacific Community (SPC) at the launch today of the first edition of the Pacific Islands Fuel Pricing Manual, an information aid to improve understanding among Pacific Island stakeholders of the basic elements of the fuel industry.
The Pacific Island region’s fuel industry has an estimated value of USD 6 billion per year.
This trend is expected to continue to thrive for some time to come, according to SPC Director, Economic Development Division, Captain John Hogan.
Speaking at the pricing manual launch, held in the wings of the ‘Transforming Pacific Island Energy Systems’ workshop in Honolulu, Captain Hogan said Pacific Island countries and territories will need to continue to plan and manage the fuel industry to ensure that it is cost effective, safe and secure.
“At the same time, countries are encouraged to look at ways to individually or collectively negotiate for more cost effective supply and logistics.
The new manual has been prepared to inform and support the work of Pacific Island officials who regulate or monitor the price of fuel in their respective jurisdictions.
“It’s a fast changing industry and we hope to provide regular updates through further editions into the future,” SPC Petroleum Adviser, Alan Bartmanovich, said.
The launch coincides with the Pacific Region Infrastructure Facility (PRIF) regional consultation with stakeholders within the Pacific region to assist in finalising the report of the liquefied natural gas (LNG)/ liquefied petroleum gas (LPG) study. PRIF expects to publish the LNG/LPG study later this year.
SPC