China ready to collaborate with Southeast Asia to address energy security issues

Istanbul (ANTARA) - China said on Thursday (19/3) that it is ready to collaborate with Southeast Asian countries to jointly address energy supply security. “The situation in the Middle East delivers a heavy blow to global energy security. The relevant countries need to immediately cease military operations and prevent further regional turmoil from impacting global growth,” said spokesperson for China’s Ministry of Foreign Affairs, Lin Jian, to journalists in Beijing. “China is ready to strengthen coordination and collaboration with Southeast Asian countries and jointly address energy security issues,” Lin added. The statement from Beijing emerges as many Asian countries are taking additional measures to counter the impact on their economies due to energy supplies from Gulf countries remaining affected by the ongoing US-Israel war with Iran. Fertiliser supplies are also impacted, with urea prices rising 1.58 percent on Wednesday to exceed 610 US dollars (Rp10.3 million) for the first time since October 2022. Tensions in the Middle East remain high since the US and Israel launched a large-scale military campaign against Iran, which so far has killed more than 1,200 people, including Iran’s then-top leader, Ali Khamenei. Iran has retaliated with drone and missile attacks across the region and has effectively closed the Strait of Hormuz to most ships, a major oil transit route that typically handles around 20 million barrels per day and about 20 percent of global liquefied natural gas trade. When asked whether Beijing would continue fertiliser supplies to the Philippines, spokesperson Lin said that China is a major producer and consumer of fertiliser and a key participant in global fertiliser trade. China also exports some of its fertiliser to international markets after ensuring domestic demand, he added.