ERIA Advances ASEAN Oil Stockpiling Strategy through Regional Validation Workshop

Jakarta, 6 August 2026: ERIA hosted the Validation Workshop on ASEAN Oil Stockpiling Strategy: Advancing Practical and Voluntary Hybrid Cooperation for Regional Energy Security on 6 August 2026 at its headquarters in Jakarta. Held in a hybrid format, the workshop brought together representatives from ASEAN Member States (AMS), the ASEAN Secretariat (ASEC), the ASEAN Centre for Energy (ACE), the ASCOPE Secretariat, and ASCOPE member companies, including PETRONAS, PNOC, and PTT. The workshop marked an important milestone in developing the ASEAN Oil Stockpiling Strategy by bringing together regional perspectives to support its further refinement.

Opening the workshop, Dr Nuki Agya Utama, Director for Energy Policy and Head of ERIA's Asia Zero Emission Center, underscored the need to strengthen ASEAN's preparedness for potential oil supply disruptions. He noted that ERIA's study is exploring practical and cost-effective stockpiling options, including joint stockpiling and ticketing arrangements, to complement existing regional mechanisms such as the ASEAN Petroleum Security Agreement (APSA).

Dr Han Phoumin, Senior Energy Economist at ERIA, presented the study's economic analysis, comparing national stockholding, joint stockpiling, and ticketing arrangements. The findings highlighted opportunities for greater regional co-operation to improve the cost-effectiveness of oil stockholding while preserving the important role of national reserves. Participants also discussed key considerations for future implementation, including governance arrangements, stock-release mechanisms, financing, allocation during supply disruptions, and country-specific infrastructure requirements.

Mr Kentaro Noma, Programme Manager for Energy at ERIA, presented the ecosystem assessment, which examined the regional foundations required to support oil stockpiling co-operation, including infrastructure, trade flows, and institutional arrangements. Discussions emphasised the importance of recognising the diverse energy security needs of ASEAN Member States, including differences in refinery and storage capacity, crude oil and petroleum product requirements, and access to regional stocks. Participants also highlighted the importance of private-sector participation, supported by appropriate government policies, incentives, and operational frameworks.

The workshop further explored a phased pathway for translating the study's analytical findings into practical regional co-operation. This approach begins with assessing regional readiness and developing the necessary legal, financial, institutional, contractual, and operational arrangements. Participants also considered the potential of a small-scale pilot, or 'sandbox', to test implementation and generate lessons for future regional co-operation. The proposed framework would allow ASEAN Member States to participate voluntarily according to their national circumstances and level of readiness, while recognising that national reserves remain the cornerstone of energy security.

ACE complemented the discussion by presenting an overview of APSA and its role in ASEAN's co-ordinated response to oil supply emergencies. The session explored how future oil stockpiling arrangements could complement existing ASEAN mechanisms, support the further operationalisation of APSA, and strengthen regional co-ordination, emergency response procedures, and voluntary co-operation.

The workshop concluded with a capacity-building session featuring experts from Japan's Ministry of Economy, Trade and Industry (METI), the Japan Organization for Metals and Energy Security (JOGMEC), the Asia Pacific Energy Research Centre (APERC), and the International Energy Agency (IEA), who shared international experience and best practices on strategic oil stockholding, emergency preparedness, and co-ordinated responses to supply disruptions.

The workshop represents an important step in ASEAN's efforts to strengthen regional energy security and resilience. The insights gathered will inform the finalisation of the ASEAN Oil Stockpiling Strategy, expected later this year, while supporting continued dialogue on practical, voluntary regional co-operation.