ASEAN ministers tackle energy security amid Middle East conflict concerns

Southeast Asian energy ministers are gathering in Manila to address growing concerns over the region's energy security amid the ongoing Middle East conflict. The war has highlighted ASEAN's dependence on imported energy, with over half of its crude oil coming from the Middle East. As global benchmark prices hover around $100 a barrel, the conflict has intensified fears of price shocks and supply disruptions.

The ministers are expected to review fuel-security measures launched earlier this year, including coordinated emergency responses under the ASEAN Framework Agreement on Petroleum Security (APSA). Long-term initiatives such as the ASEAN Power Grid and renewable energy deployment are also on the agenda. Philippine Energy Undersecretary Felix Fuentebella noted that the crisis has shifted energy security from a technical issue to a priority for ASEAN leaders.

Higher fuel prices are impacting households and workers, with transport drivers like Antonio Bandin reporting significantly increased costs. The ASEAN Center for Energy warned that a severe disruption in Middle East supplies could risk nearly 28 percent of ASEAN's final oil consumption. However, insufficient storage capacity and inventories remain obstacles to implementing APSA, according to Alloysius Joko Purwanto, senior energy economist at the Economic Research Institute for ASEAN and East Asia.

Analysts caution that regional fuel-stockpiling arrangements, while important for future crises, will not resolve the current situation. Christopher Len, a senior fellow at the ISEAS-Yusof Ishak Institute, emphasized that reserves are a buffer, not a long-term strategy. Ministers are also discussing ways to reduce dependence on imported fuels through renewable energy, electric vehicles, and energy efficiency. The International Energy Agency estimates that without structural changes, Southeast Asia's energy import bill could rise from over $80 billion in 2024 to about $245 billion by 2035.