Senator Win Gatchalian is pushing for the accelerated implementation of the ASEAN Petroleum Security Agreement (APSA), warning that the Middle East crisis has heightened instability in global energy markets.
He emphasized that with the Philippines hosting this year’s ASEAN Summit, the country is in a prime position to lead the region toward energy resilience and should place the operationalization of APSA at the top of the agenda to shield member states from potential supply shocks.
He said one intervention is the Coordinated Emergency Response Measures (CERM), where ASEAN member states shall endeavor to supply petroleum to any member state facing a critical shortage of at least 10% of normal domestic needs for 30 straight days.
“The ongoing conflict in the Middle East highlights just how easily external shocks can compromise our energy supplies, threatening the economic growth of ASEAN member states,” said Gatchalian, chair of the Senate PROTECT ad hoc committee.
Signed in 2009, APSA employs the principle of mutual aid and assistance among ASEAN member states during times of energy emergency to stabilize petroleum supply.
“Bilang host ng ASEAN Summit ngayong taon, mayroon tayong plataporma para gawing buhay at aktibo ang matagal nang kasunduan na ito,” he added.
