On September 23, 2014, in Vientiane, Laos, an ASEAN Energy Ministers Meeting was help as part of the ASEAN Power Grid project. Energy Minister Narongchai Akrasanee revealed that a joint statement had been issued by Laos, Thailand, Malaysia and Singapore, emphasizing their agreement to push forward the energy cooperation plan and establish a committee to oversee electricity trade among themselves. The four countries will meet again in November in Bangkok to discuss the potential, policy, rules and regulations and other details related to the trading of electricity over the power grid. The power trade cooperation project is an extension to the ASEAN Power Grid project. Its aim is to bolster regional energy security and the economies of the participating countries as well as set a model for the rest of ASEAN. Building a transmission line to carry electricity from Lao hydropower plants to Singapore via Thailand and Malaysia can help the four countries save as much as US$26 billion (Bt839 billion) over 10 years, according to a new study by the Economic Research Institute for Asean and East Asia (ERIA). In addition to electricity cooperation, the ministers also talked about other forms of energy such as oil, natural gas and alternative energy.
