Highlights
- Rising demand for natural gas: ASEAN’s demand for natural gas continues to increase across the power and industrial sectors, yet the APSA’s existing mechanisms do not adequately address gas-specific supply risks.
- Declining domestic supply and tightening reserves: Maturing fields falling production and reserve depletion are pushing ASEAN towards net gas import dependence by 2027, increasing vulnerability to external shocks.
- Increasing infrastructure and geopolitical risks: LNG terminals, pipelines, maritime checkpoints and offshore fields face heightened operational and geopolitical threats, increasing the likelihood of regional disruptions.
- The need to moderninse the APSA to strengthen gas security: The framework of the APSA, established in 1986 has been focused primarily on oil. As such, it has been unable to address gas-related emergencies, pipeline failures or import disruptions. The new 2025 APSA, endorsed by the ASEAN Energy Ministers in October 2025, provides an opportunity to introduce new mechanisms to manage large volumes of natural gas.