LatAm energy ministers in Ecuador to boost energy integration

Energy ministers from 27 Latin American countries gathered in Quito, Ecuador Friday to promote energy integration.

Ministers attended the opening of the 46th session of the Latin American Energy Organization (OLADE) to outline an agenda for "sustainable energy development" over the next 15 years, state news agency Andes said.

"We have suffered tough times, economically and financially, due to the fall in oil prices, a severe crisis that has had a negative impact on the raw materials Latin America produces," OLADE Executive Secretary Fernando Cesar Ferreira said.

With fluctuating oil prices and some 17 million people in the region still lacking access to electricity, Ferreira urged countries to pursue renewable energy sources, "the most important goal to achieve by 2030."

"Only energy integration will allow us to strengthen our economies in the long term," said Ecuadoran Vice President Jorge Glas.

He touted Ecuadoran energy projects, such as the Chinese-built Coca Codo Sinclair hydroelectric plant, for making it self sufficient to meet its domestic consumption needs.

"How can we explain that today Ecuador has more energy than it uses while another country lacks energy? That makes no sense. We have to move towards efficient energy integration, because energy makes development possible," said Glas.

Ecuador today exports electricity to Colombia and has just reached energy supply agreements with Peru, he said.

Member countries are set to elect a new executive secretary for the 2017-2020 period, and debate and approve a Latin American Energy Fund (Folade) to finance energy projects.

The OLADE has been working with the Community of Latin American and Caribbean States (CELAC) to identify measures to promote energy integration, said Ferreira.

That cooperation has led to a "document that outlines some paths that can be followed by CELAC's 33 member countries," Ferreira added. Endi