Senior energy officials of the Association of Southeast Asian Nations (ASEAN) plus China, Japan and the Republic of Korea (ASEAN+3) gathered in Mandalay city, Myanmar, on July 28 to discuss measures to boost energy cooperation, especially in oil reserves.
The Senior Officials Meeting on Energy (SOME +3) on the oil reserve issue will be followed by the 6th ASEAN+3 Ministers on Energy Meeting (AMEM) slated for the next day.
ASEAN countries' plans on oil reserves will be drafted at the SOME and are expected to be released at the 6th AMEM.
ASEAN has consented to work on plans for building an oil reserve system in each member country to cope with increasing demand for oil in the region and rising prices in future.
A series of working meetings between ASEAN and three East Asian dialogue countries will be held to iron out their respective country’s plans to build up oil reserves./.