Oil stockpiling cooperation can save ASEAN hundreds of millions of USD annually: ERIA
Jakarta, Nov. 6 -- Amid persistent volatility in global energy markets, the Economic Research Institute for ASEAN and East Asia (ERIA) believes Southeast Asian countries should strengthen cooperation and gradually establish a common oil stockpiling mechanism and coordinated emergency response arrangements to minimise the impact of supply disruptions. These were among the key issues discussed at a seminar on ASEAN energy security and green growth organised by ERIA in Jakarta, Indonesia, on November 6. ERIA CEO Takayuki Yamanaka stressed at the event that recent fluctuations in global energy markets highlighted the need for ASEAN member states to improve preparedness and cooperation. He said ERIA's research focuses on the feasibility of estab...
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