LTMS-PIP was initiated by the four countries in September 2014 to trade power among the neighbouring countries through the ASEAN Economic Community and ASEAN Power Grid.
It aims to create an energy security system for the region by connecting to a common power network through which members can share the supply and transmit electricity to each other, while countries with excess electricity will sell to those in need easily and conveniently.
Under the project, in June, Singapore started importing renewable energy from Laos through Thailand and Malaysia, after an initial two-year power purchase agreement was signed between Singapore’s Keppel Electric and Laos' state-owned Electricite du Laos (EDL).
Accordingly, Laos will export 30 MW of electricity in the dry season and 100 MW in the rainy season to Singapore in 2022 and 2023.
Malaysia-China trade hits nearly 100 bln USD
Malaysia-China economic ties have continued to strengthen, with bilateral trade reaching nearly 98 billion USD between January and November, matching the 2023 total trade volume.