ASEAN energy chiefs seek to advance oil security pact amid Mideast crisis
ENERGY LEADERS from Southeast Asian economies are aiming to accelerate the formalization of an agreement that seeks to enhance petroleum security, especially as oil-starved countries scramble for supply amid the Middle East conflict.
ASEAN energy ministers convened virtually on Monday led by Philippine Energy Secretary Sharon S. Garin to discuss the war’s impact on the region.
The meeting was attended by energy ministers and representatives from all Association of Southeast Asian Nations (ASEAN) member states, with the support of the ASEAN Secretariat, the ASEAN Center for Energy, and the ASEAN Council on Petroleum and Energy.
Among the topics discussed was the importance of the ASEAN Framework Agreement on Petroleum Security (APSA) as a key regional action to enhance preparedness to potential oil and gas supply disruptions.
APSA is a pact to enhance petroleum security among ASEAN member states and minimize exposure to an emergency situation by establishing a petroleum-sharing scheme.
“We recalled that APSA modernizes ASEAN’s petroleum security arrangements by providing a voluntary and coordinated framework for emergency response, information sharing, and mutual assistance during supply crises,” the energy ministers said in a statement on Tuesday.
“In this regard, we urged the expeditious completion of national processes towards its ratification.”
Following the start of the war on Feb. 28, Iran has blocked the Strait of Hormuz, one of the world’s most critical oil chokepoints that handles a significant share of global crude shipments. This has left net oil importers like the Philippines and other Southeast Asian economies to grapple with supply and price shocks.
The Philippines relies heavily on Middle East crude, which accounts for roughly 98% of its imports.
“We emphasized that disruptions in key energy transit routes could have far-reaching implications on global oil supply chains, especially for ASEAN as a net energy-importing region,” the ministers said.
They added that the issue highlights the need to maintain secure and open sea lanes, as well as continuous transit of passage of vessels and aircraft in straits used for international navigation.
“We noted that ASEAN’s growing energy demand may increase exposure to such shocks and underscored that stable, accessible, reliable, and affordable energy supply remains fundamental to regional energy security.”
The ASEAN energy ministers have also committed to advancing the implementation of the ASEAN Plan of Action for Energy Cooperation 2026-2030, including its goal of reducing energy by 40%, attaining 30% renewable energy share in total energy supply and 45% in installed power capacity.
To reduce dependence on imported fossil fuel, they highlighted the need for supply diversification — including clean and renewable energy transition — broadening sources of crude oil and refined products, and strengthening “intra-ASEAN trade.”
“We further emphasized the need to accelerate biodiesel and bioethanol blending, promote the adoption of electric vehicles and electric cooking, enhance renewable energy deployment, and explore the role of emerging technologies, including civilian nuclear energy, in accordance with international safety standards,” the ministers said.
Aside from supply aspirations, they also stressed the critical role of demand-side and energy efficiency measures in mitigating the immediate impacts of oil supply shocks and enhancing long-term sustainability.
Meanwhile, the regional bloc’s energy chiefs urged continued efforts to advance the cross-border power trading under the ASEAN Power Grid (APG) that aims to link up the power systems of its member countries by 2045.
“We look forward to more cross-border electricity trading projects coming to fruition in the next few years to realize the APG.”
They likewise underscored the importance of the Trans-ASEAN Gas Pipeline in expanding liquefied natural gas infrastructure and supply chains. The project aims to establish interconnecting arrangements of electricity and natural gas in ASEAN. — Sheldeen Joy Talavera
