The Indian Ocean Blue Economy

Blue Economy as a Driver of Economic Growth

• What are the key blue economy opportunities in the Indian

Ocean?

• How can Indian Ocean states best learn from and assist each

other in the blue economy?

• What role can IORA play in the blue economy?

OPPORTUNITIES

Indian Ocean GRP Offshore oil & gas

Indian Ocean GRP Offshore Oil & Gas

Indian Ocean GRP Maritime chokepoints

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3.3

2.9

4.5

3.8

17

15

Indian Ocean GRP Air traffic and tourism

Indian Ocean GRP Seabed mining

Remote sensing the seafloor

Remote sensing the seafloor

Forecasting undiscovered mesophotic coral reefs

• Maybe 20% more coral reefs in the worlds than currently known • New fisheries, biodiversity refugia, tourism

New era of unprecedented floating infrastructure

• Prelude • 488m long • 74m wide • 600,000 tonnes • Billion dollar asset • Will produce • Many tens of

billions of dollars of natural gas

• 4 in Australia in coming years • Dozens being considered

FLNG as an engineering hub

• 800 kilometre fibre optic cable stretching from Darwin to Scott Reef to Port Hedland

FLNG as a telecommunication hub

Digital blue economy

LEARN FROM & ASSIST =

COLLABORATION

A challenge shared is a challenge halved

• Increased critical mass

• Diversified thinking and available skills

• Bigger response/solutions to big challenges

• Greater ownership of output and outcome

• The most productive and enduring programs arise when

interests are aligned, as parties are highly motivated to

achieve faster outputs and outcomes

Lessons learned from industry engagement

• Deep engagement is CRITICAL and requires advanced

communication

• Understanding industry’s issues/challenges is essential

• Trust is essential and achieved through regular and open dialogue

• Listen, question, discuss, debate, but recognise everybody around

the table is highly skilled and informed

• Strong collaborations require good governance

• DELIVERY is ESSENTIAL (on time, in scope, on budget)

Australian and the Indian Ocean Blue Economy

• Marine Industries $47B in 2012 $100B in 2025

Australian Marine Science Plan

• Blue Economy focus with 8 areas: • marine sovereignty, security & safety • energy security • food security • biodiversity, conservation & ecosystem

health • urban coastal environments • climate variability and change • resource allocation • well resourced research infrastructure

• Other IORA countries have developed or are developing similar plans

• Is it time to integrate them?

Indian Ocean Marine Research Centre

Summary

• Business-as-usual is no longer sufficient

• Active development not passive

• Requires planning and cooperation

• Industry engagement is critical

• Stop, work, play, trade

• A new security issue – intellectual property and

biological diversity ownership (excluding fisheries)