SOUTH-EAST ASIA (Xinhua): The Philippines, this year's chair of the Association of South-East Asian Nations (Asean), convened senior officials to assess the impact of the evolving West Asia situation on global and regional energy markets, focusing on oil and gas supply stability, price volatility, and potential supply chain disruptions, the Department of Energy said on Sunday.
During a virtual meeting over the weekend, Asean member states and dialogue partners exchanged updates on current supply conditions and discussed cooperation on diversifying supplies, improving access to energy resources, enhancing market transparency, and strengthening emergency response coordination.
Technical briefings highlighted constraints in key supply routes and shifting global trade flows affecting the region. Officials stressed the need to strengthen monitoring systems, improve data transparency, and advance strategies for strategic stockholding and emergency reserves, taking into account national circumstances.
In a separate statement, the regional bloc said participants underscored the urgency of enhancing Asean's collective preparedness and response mechanisms, while reinforcing regional solidarity and coordinated policy actions to manage emerging risks. -- Xinhua
