ASEAN tackles energy security amid Middle East conflict concerns
Energy ministers from Southeast Asia are meeting in Manila this week to address growing concerns over the region's energy security amid the ongoing Middle East conflict. The war has highlighted the vulnerability of ASEAN nations, which rely heavily on imported energy, particularly crude oil from the Middle East. As global benchmark oil prices hover around US$100 per barrel, the conflict's impact on shipping routes and infrastructure has intensified the urgency to implement ASEAN's proposed energy security plans.
The ASEAN Framework Agreement on Petroleum Security (APSA) is a key focus of the discussions. Ministers are expected to review regional fuel-security measures launched after emergency talks earlier this year, including coordinated emergency responses. 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 elevated energy security from a technical issue to a priority for ASEAN leaders.
The rising oil prices are taking a toll on households and transport workers. Antonio Bandin, a Manila jeepney driver, reported that his daily fuel expenses have more than doubled to about 2,400 pesos (S$50). The ASEAN Centre for Energy warned that a severe disruption in Middle East supplies could jeopardize nearly 28% of ASEAN's final oil consumption, emphasizing the need for stronger regional petroleum-security arrangements. However, analysts point out that insufficient storage capacity and inventories remain significant obstacles to implementing APSA.
Energy Secretary Sharon Garin mentioned that the Philippines, currently under a national energy emergency, is exploring regional fuel-stockpiling arrangements and potential storage projects. Analysts caution that such measures are more about preparing for future crises rather than addressing the immediate situation. Ministers are also expected to discuss reducing long-term 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 US$80 billion in 2024 to about US$245 billion by 2035.