(MENAFN- Qatar News Agency) The Japanese government will assist Southeast Asian countries in establishing strategic petroleum reserves, an initiative aimed at reducing the risks of supply disruptions and stabilizing prices.
The Ministry of Economy, Trade and Industry will begin discussions with Southeast Asian governments in fiscal 201
Japan, which had its own experience of an oil crisis in 1973, will share such expertise as how reserve sites are set up and how the private and public sectors divide their responsibilities, Nikkei nReview reported
Demand for oil is rising sharply in Southeast Asia amid economic and population growt
Daily demand in the 10 members of the Association of Southeast Asian Nations is seen climbing 50% from the current 4.4 million barrels to reach 6.8 million barrels in 2035, according to the International Energy Agenc
The region alone is expected to account for nearly 20% of global demand growt
Even Indonesia, known as an oil producer, has become a net importer. Countries including Thailand and Vietnam are moving to create reserves in respons
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.