Asean exploring regional fuel stockpile plan, says Johari

 The trade minister says the idea is still being explored and will require coordinated demand planning among member states.

Investment, trade and industry minister Johari Ghani said the proposal would definitely require private sector involvement.

CEBU:

 Asean is exploring the possibility of establishing a regional fuel stockpile to strengthen energy security and improve collective resilience against future supply disruptions, says investment, trade and industry minister Johari Ghani.

Johari said the proposal would allow member states to coordinate fuel needs and reserves as a regional grouping instead of acting individually.

“Asean, as a grouping, can look into the possibility of building our stockpile in the future,” he told reporters after attending meetings for the 48th Asean Summit in the Philippines city.

Johari said the idea remains at an early stage but reflects growing concerns over global energy volatility and its impact on Southeast Asia.

He said the framework would require structured coordination among member states, including mapping national demand and planning imports collectively.

“Maybe we can come to an understanding between all Asean members. We register what quantity of oil we need, and then we start planning and organising imports on a regional basis,” he said.

Johari added that the initiative could begin with a small group of willing countries before being expanded across the bloc.

“Out of the 11, maybe we start with three or four like-minded countries that agree to this idea first.”

He added that private sector involvement would be crucial for this proposal to take place, saying governments would not be able to execute it on their own. - FMT