IBC and ERIA Convene First Working Group Meeting to Advance ASEAN Joint Oil Stockpiling

As ASEAN works towards a stronger and more resilient energy future, regional cooperation will be critical to strengthening preparedness against potential energy supply disruptions. IBC and the Economic Research Institute for ASEAN and East Asia (ERIA) convened the First Working Group Meeting on ASEAN Joint Oil Stockpiling on 3 September 2026, bringing together key stakeholders from the energy, engineering, procurement, construction, storage, and terminal sectors to exchange perspectives on opportunities and challenges in developing a regional approach to fuel security. The meeting followed the High-Level Roundtable on ASEAN Joint Oil Stockpiling held in Singapore on 31 July 2026, building on the discussions and directions identified during the earlier high-level dialogue.

The meeting explored the potential for ASEAN joint oil stockpiling as a practical mechanism to strengthen regional energy security and resilience, with discussions centred on the feasibility of a pilot concept and the development of a sustainable business model. Participants considered key aspects including storage infrastructure, supply and distribution arrangements, operational requirements, commercial viability, and the potential role of private-sector players across the energy value chain.

The discussion also highlighted the importance of ensuring that any regional stockpiling mechanism is responsive to the different energy profiles, market structures, and infrastructure capacities of ASEAN Member States. Bringing together industry stakeholders from across the value chain provided an opportunity to connect regional policy objectives with practical industry perspectives and identify potential areas for collaboration.

The meeting marks an initial step towards developing a practical and scalable framework for ASEAN joint oil stockpiling, while strengthening dialogue between regional institutions and the private sector. Moving forward, IBC and ERIA will continue to engage relevant stakeholders to refine the pilot concept, assess potential implementation models, and explore how regional cooperation can contribute to ASEAN’s broader efforts to build long-term energy security and resilience.