NationThailand-Mar 16, 2026
The Association of Southeast Asian Nations (ASEAN), which the Philippines currently chairs, will expedite the enforcement of an energy-sharing mechanism which will allow member states to support each other’s oil and gas needs during supply disruptions. This measure, through which ASEAN countries can provide petroleum supplies to neighbors facing shortages of at least 10 per cent of their requirement, comes as the conflict in the Middle East continues to escalate further. In a press briefing following the 32nd Asean Economic Ministers’ (AEM) Retreat in Taguig City on Friday, Trade Undersecretary Allan Gepty said the AEMs agreed to hasten the completion of the ASEAN Petroleum Security Agreement (APSA) ahead of this year’s summit in May. Under Apsa, a member could give a distress notice to the secretariat of the Asean Council on Petroleum of the occurrence of a “critical shortage” in its petroleum supply due to an emergency. Critical shortage happens when a country experiences a shortfall of at least 10 per cent of its normal domestic requirement for a continuous period of at least 30 days. Before requesting assistance from other Asean states, the distressed country shall implement short-term measures to reduce demand for its petroleum use, including demand restraint, fuel switching, price surge protection and information sharing. Under Apsa’s Coordinated Emergency Response Measures, all member states shall endeavor to supply petroleum to the distressed country at an aggregate amount equal to 10 per cent of its normal domestic requirement. The terms and conditions of the sale of petroleum shall be negotiated among the parties “in the spirit of assistance, and no undue advantage shall be taken by the ASEAN states.”
Read more at: https://www.nationthailand.com/blogs/news/world/40063845
