Fuel and feed South-east Asia from within
The region must reduce fossil fuel dependence and build a more diversified energy mix
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SINCE late February, the Strait of Hormuz that normally carries 25 per cent of the world’s seaborne oil and 20 per cent of its liquefied natural gas (LNG) has faced severe disruption.
For South-east Asia, which imports 60 per cent of its oil from the Middle East – a share projected to reach 70 to 80 per cent within two decades – the consequences are real and immediate.
Vietnam sources 80 per cent of its crude from Kuwait. Thailand imports 90 per cent of its crude oil.
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