MANILA, April 26 (Xinhua) -- The Philippines, this year's chair of the Association of Southeast Asian Nations (ASEAN), convened senior officials to assess the impact of the evolving Middle East 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 Sunday.
During a virtual meeting on Friday, ASEAN member states and dialogue partners shared updates on current supply conditions and explored cooperation on supply diversification, access to energy resources, market transparency and 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. Enditem
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