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US, Australia ink MoU on energy cooperation

ANI | Updated: Oct 03, 2018 14:54 IST

Washington DC [USA], Oct 3 (ANI): The United States Department of State hosted the first annual US-Australia Energy Security Dialogue here on Tuesday.
Assistant Secretary of State for the Bureau of Energy Resources (ENR) Frank R. Fannon and Australia's Department of Environment and Energy Deputy Secretary Rob Heferen led the discussions.
Officials from the US Departments of Energy and Interior participated in the dialogue along with an Australian delegation from the Departments of Environment and Energy, Industry, Innovation and Science, Foreign Affairs and Trade, the Australian Trade and Investment Commission, the Commonwealth Scientific and Industrial Research Organisation, and the Embassy of Australia in Washington DC.
During the discussions, the officials signed a Memorandum of Understanding (MoU) to enhance the existing framework for bilateral cooperation and to strengthen areas of mutual interest in the energy sector, to include promoting regional energy security, encouraging open and competitive markets, facilitating bilateral energy trade and investment, and advancing clean energy technology policies to promote research, development, and deployment of innovative energy technologies.
The officials also shared best practice approaches and lessons learned to address shared challenges domestically in energy and resources. The recent Energy Security Dialogue builds upon the commitment to foster an Indo-Pacific region where international trade is rooted in market-based principles, private sector-led development, and good economic governance.
The Energy Security Dialogue is an outcome of the meeting of US President Donald Trump and former Australian Prime Minister Malcolm Turnbull in February, when the leaders announced the US-Australia Strategic Partnership on Energy in the Indo-Pacific.
The partnership aims to promote regional energy infrastructure and cooperation, open and competitive energy markets, and improved rules and standards in the Indo-Pacific. The concept was broadened to include energy security at the 2018 Australia-US ministerial consultations held in Palo Alto, California in July.
Australia will host the next Energy Security Dialogue in 2019. (ANI)