Indonesia urged to promote role in world?s energy trade

The Indonesian Chamber of Commerce and Industry (Kadin) has called on Indonesian oil and mining companies to improve their role in the expanding world?s energy market through a partnership with international energy communities.

The call was made by Kadin?s chairman Aburizal Bakrie in his speech at the Indonesian International Oil, Gas and energy Conference (IIOGE) held in Bali over the weekend. The speech was delivered by the head of Kadin?s mining department AM Kusomo.

Kadin?s chairman said that the liberalization of the country?s energy sector would give the local energy players more leeway to compete with the world?s players in the expanding international energy market. "The liberalization in the energy sector will play a significant role in bringing the local companies on par with international energy players," he added.

He, however, warned that the liberalization would be meaningless if the government failed to provide a conducive business climate for the energy-related companies to grow. "The business climate based on fairness and transparency are the key factor to be able to success in the free market era," he said.

According to him, in order to help local companies promote their practices according to international standards, Kadin had made many efforts in the implementation of the principles of good corporate governance.

IIOGE, an important energy forum initiated by Kadin, was established several years ago to discuss the future of the country?s energy sector. A number of international energy commitments such as the China-Indonesia LNG cooperation and the planned establishment of the Asian gas grid were made during the IIOGE meetings. (*)