How vulnerable is Southeast Asia to an energy shock thousands of miles away? The conflict in the Middle East and disruption in the Strait of Hormuz have pushed up oil, LNG and jet fuel prices, with effects that reach far beyond the energy sector.
ASEAN has described the region’s vulnerability through the 5Fs: fuel, food, fertilizer, finance, and foreign workers.
In this episode, host Ei Thant Sin speaks with Dr. Prashanth Parameswaran about which countries facing the greatest risks, why some are more exposed than others, how the crisis impacts different sectors of the economy and what the crisis means for companies operating in Southeast Asia.
The conversation also dives into the importance of the Strait of Malacca, regional cooperation during emergencies and the need for governments and businesses to prepare together. Looking ahead, they discuss the transition to clean and renewable energy and where U.S. companies could contribute to the region’s energy security.
Dr. Prashanth Paramesawaran is a fellow at the Institute for Indo-Pacific Security and a senior columnist at The Diplomat.
Chapters
0:34 Introduction2:45 How the disruption in the Strait of Hormuz impact Southeast Asia’s energy security.
4:46 Why the Philippines is the most impacted country in Southeast Asia.
5:23 What an energy state of emergency means.
7:56 Whether Malaysia can power its growing data center industry
8:29 How the energy crisis affects people’s daily lives
12:28 What a multi-alignment approach means in a crisis.
13:48 What a Strait of Malacca disruption would mean for Southeast Asia.
17:45 What businesses can learn from the energy crisis and its impact on Indonesia’s and Vietnam’s economies.
20:07 Why Southeast Asia needs to broaden its energy options.
21:42 Where ASEAN may turn for energy: renewables, nuclear or coal.
23:02 Whether China and Russia could emerge as winners in this energy crisis.
25:25 What lasting impact the energy crisis could have on Southeast Asian countries.
27:27 What would make Southeast Asia more energy secure in 5-10 years from now.
30:06 What role the United States can play in Southeast Asia’s energy future.