Middle East war sharpens focus on ASEAN energy security plans
ASEAN energy ministers are meeting in Manila to address regional energy security concerns exacerbated by the ongoing conflict in the Middle East. The region is seeking to reduce its heavy reliance on Middle Eastern crude oil imports.
Why it matters
Demonstrates how geopolitical instability in the Middle East directly impacts the energy policy and economic stability of Southeast Asian nations.
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ASEAN imports more than half of the crude for its refineries from the Middle East at a time when global benchmark prices are around US$100 a barrel.
outheast Asian energy ministers meeting in Manila this week face the prospect of a prolonged Middle East war that has exposed the region's vulnerabilities to imported energy.
As the US-Israeli war against Iran drags on, there is increased urgency for ASEAN to implement its proposed energy security plans and reduce its exposure to price shocks caused by attacks on infrastructure and shipping routes in the Middle East.
Also covering this story
7 other newsrooms covered this event. We read each version separately.
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