Reuters reported that Asian countries, in response to disruptions in energy supply caused by the Iran war, have accelerated...

Reuters reported that Asian countries, in response to disruptions in energy supply caused by the Iran war, have accelerated plans to increase oil reserves, develop the regional power grid, and expand renewable energy.

In a joint statement by nine Southeast Asian countries with Japan and Australia, emphasis was placed on developing oil storage systems in each country and creating shared regional reserves through voluntary participation.

Based on the ninth ASEAN Energy Outlook report, published on October 8, the share of renewable energy in total regional primary energy supply is only 14.1%; ASEAN countries are now targeting to raise the share of renewable energy to 30% of primary energy supply and 45% of installed power generation capacity by 2030.

Reuters also reported that the countries in the region have reached a new initial agreement to speed up the implementation of the shared ASEAN power grid; a plan that was first proposed in 1997 but whose progress has been slow so far.