The recent signing of the ASEAN Oil Security Agreement (EASA) at the ASEAN summit in Thailand from 26 February to 1 March marked a new milestone for regional energy cooperation. As an extension of the previous 1986 agreement, the new APSA aims to improve ASEAN`s energy security. `oil stocks`, strategic petroleum and petroleum products; stored in storage tanks or underground reservoirs near the ground, intended to be used for both operational and strategic reasons, and to seek new oil resources, with interested or relevant parties from ASEAN Member States able to seek to participate, on a commercial and voluntary basis, in joint ventures to explore and develop oil resources, particularly in deep-sea and new border areas, both globally and regionally; liberalisation of oil and gas markets, ASEAN member states recognising that deregulation and liberalization of the oil industry would enhance oil security by taking into account more players in the conditions of natural competition; Taking note of the ASEAN Oil Security Agreement (EEAS), signed on 24 June 1986 in Manila, Philippines, which instituted THE ASEAN Emergency Supply Programme for the Supply of Crude Oil and/or Petroleum Products in Times or Shortages due to bottlenecks and excess supply; Aware of the threats and risks to ASEAN`s security of oil supply, combined with the fact that some ASEAN Member States, which are now net exporters of oil, will in the near future become net importers of oil that are heavily dependent on oil resources outside the region, particularly the Middle East, Member States should implement short-, medium- and long-term strategies to improve oil security, minimize exposure to emergencies and mitigate the effects of critical oil shortages. APSA 2009 does not enter into force until 30 days after the presentation of the 10th ratification or adoption instrument to ASEAN. All ASEAN members implemented the agreement in 2009, but so far only seven members have ratified – Laos, Cambodia and the Philippines have not presented an instrument to ASEAN. The agreement provides for a series of short-, medium- and long-term measures that Member States should take to improve energy security and cooperation in the region. The most important is the obligation to cover up to 10% of a member`s oil needs in times of voluntary and commercial shortages. “Oil,” as used in the agreement, refers to “oil, products and natural gas in their natural state.” Member States are not required to redirect their oil deliveries to help other members if this results in difficulties. Indonesia is currently a net importer of oil.
diversification of energy sources, with ASEAN Member States having to reduce dependence on imports from a single oil source; Knowing that the development of the GPAs and the TAGP project are two major energy programs of Hanoi`s action plan, approved by ASEAN heads of government on 16 December 1988, the ASEAN Action Plan for Energy Cooperation (APAEC) 1999-2004, adopted by ASEAN Energy Ministers (AMEM) in Bangkok on 3 December 2003. July 1999 and APAEC 2004-2009, adopted on 9 June 2004 in Manila, Philippines, on 22 June 2004, and entrusting ASEAN energy ministers with the task of implementing the ASEAN electricity grid, were entrusted to the heads of ASEAN Energy and Administration (HAPUA) and TAGP under the patronage of the ASEAN Energy Minister; ASEAN Member States are working to participate in international dialogues to improve ASEAN`s energy and/or oil security with ASEAN dialogue partners and relevant international organizations.