The Philippines is moving to strengthen its energy security as Japan pledged support for the country’s proposed strategic petroleum reserve program amid growing concerns over instability in the Middle East.
In a joint statement released Thursday, May 28, the Philippine Department of Energy (DOE) and Japan’s Ministry of Economy, Trade and Industry said Manila is working on establishing a long-term petroleum stockpiling system, including the development of new storage facilities.
Japan committed to assist the initiative through feasibility studies, technical cooperation, and capacity-building programs aimed at helping the Philippines develop a reliable oil stockpiling framework.
The support will involve several Japanese institutions and partners, including the Economic Research Institute for ASEAN and East Asia (ERIA), the Japan Organization for Metals and Energy Security (JOGMEC), the Japan Bank for International Cooperation (JBIC), and Japanese engineering and trading companies specializing in energy infrastructure.
Marcos Pushes Regional Cooperation on Energy Security
The energy partnership was highlighted during President Ferdinand Marcos Jr.’s state visit to Japan.
Earlier this year, Marcos called for a regional study on joint oil stockpiling during the Asia Zero Emission Community Plus Online Summit hosted by Japanese Prime Minister Takaichi Sanae.
He also urged ASEAN member states to fast-track the implementation of the ASEAN Framework Agreement on Petroleum Security (APSA) Coordinated Emergency Response Mechanism, which seeks to improve regional preparedness during fuel supply disruptions and energy emergencies.
The Philippines has been advocating stronger regional coordination as geopolitical tensions continue to threaten global oil supply stability.
ASEAN Explores Shared Petroleum Response System
Japan likewise backed the Philippines’ push for an ASEAN-wide joint stockpiling initiative, beginning with the development of a financing roadmap through ERIA.
According to the joint statement, Japan intends to work with oil-producing nations, including countries in the Middle East, while helping ASEAN strengthen its energy resilience and long-term supply security.
The Department of Foreign Affairs earlier said ASEAN countries are exploring an energy-sharing mechanism that would allow member states to support one another during possible petroleum shortages.
As part of the discussions, the Philippines is reportedly identifying ASEAN nations with substantial petroleum reserves that could provide assistance if supply disruptions arise.
