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Asia’s Energy Security Regulatory Architecture Needs Fundamental Reform. The Question Is Who Leads It

Haruto Sato1 month ago4 weeks ago04 mins

Five weeks of the Hormuz crisis have exposed a truth that Asia’s energy regulators have been reluctant to confront: the region’s energy security regulatory architecture is designed for a world that assumed the Strait of Hormuz would always remain open. Japan’s emergency reserve framework, Korea’s petroleum business regulations, India’s strategic reserve management, and the IEA’s…

The IEA’s Emergency Reserve Mechanism Was Built for a Different Era. The Hormuz Crisis Exposes Its Limits.

Haruto Sato2 months ago3 weeks ago04 mins

The International Energy Agency’s governing framework for emergency oil stock releases, established by the Agreement on an International Energy Program in 1974, was designed in response to the Arab oil embargo. The framework requires member countries to hold emergency reserves equivalent to at least 90 days of net oil imports, establishes a collective action mechanism…

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IEA

Asia’s Energy Security Regulatory Architecture Needs Fundamental Reform. The Question Is Who Leads It

The IEA’s Emergency Reserve Mechanism Was Built for a Different Era. The Hormuz Crisis Exposes Its Limits.