Japan is to discuss with China and the Republic of Korea (RoK) the construction of a crude oil reserve depot for the Association of Southeast Asian Nations (ASEAN).
These countries will support the ASEAN in the human resources training and financial aid for the depot’s construction and management in the form of loans by Japanese government or state credit organisations, reported the Japanese daily Nikkei.
This project aims to ensure the energy security and maintain stable economic growth rate in the region
At present, the ASEAN member countries have not joined the International Energy Agency (IEA) and except for Singapore, none of them has made real effort to stock on this strategic product.
According to the IEA, the crude oil demand in Asia-the Pacific is expected to increase by about 13 percent in 2015 and 59 percent in 2030 against 2008. Many IEA member countries like Japan or the Rok have their own crude oil depot./.
These countries will support the ASEAN in the human resources training and financial aid for the depot’s construction and management in the form of loans by Japanese government or state credit organisations, reported the Japanese daily Nikkei.
This project aims to ensure the energy security and maintain stable economic growth rate in the region
At present, the ASEAN member countries have not joined the International Energy Agency (IEA) and except for Singapore, none of them has made real effort to stock on this strategic product.
According to the IEA, the crude oil demand in Asia-the Pacific is expected to increase by about 13 percent in 2015 and 59 percent in 2030 against 2008. Many IEA member countries like Japan or the Rok have their own crude oil depot./.
