AUSTRALIA, BRUNEI DARUSSALAM, CHINA, HONG KONG, CHINA, INDONESIA, JAPAN, NEW ZEALAND, PAPUA NEW GUINEA, PHILIPPINES, REPUBLIC OF KOREA, SINGAPORE, THAILAND, VIET NAM: Tenth Meeting of APEC Energy Ministers: St. Petersburg Declaration - Energy Security: Challenges and Strategic Choices
The Energy Ministers of member economies of the Asia-Pacific Economic Cooperation (APEC) forum, met in St. Petersburg, the Russian Federation, on 24-25 June 2012 to discuss the energy security challenges and strategic choices they face. They affirmed the importance of sustainability, efficiency, predictability, and transparency of traditional energy markets in order to increase their energy security. Also, they addressed the transition to a lower carbon economy, improved energy efficiency, the safe use of nuclear energy and the objective of phasing out fossil fuel subsidies.