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Why ASEAN has yet to step on the gas in regional energy cooperation
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While there is an ASEAN emergency petroleum sharing pact, this has never been activated and analysts say considerable challenges to energy cooperation remain.
PHOTO: ST FILE
- ASEAN aims to boost energy cooperation amid the Middle East crisis by making progress on the ASEAN Petroleum Security Agreement (APSA) and ASEAN Power Grid (APG).
- APSA, designed for energy sharing, remains a paper initiative due to its voluntary nature, with nations prioritising domestic needs.
- The APG faces infrastructure and policy hurdles, but initiatives like ADB's fund and calls for renewable investment aim for a connected grid by 2045.
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BANGKOK - The Middle East crisis has created an impetus for ASEAN states to step up cooperation in energy, as they grapple with soaring fuel prices and concerns about supply shortages.
However, while there is an ASEAN emergency petroleum sharing pact, this has never been activated and analysts say considerable challenges to energy cooperation remain.
