Government Secures Energy Supply Outside the Middle East

Economy Coordinating Minister Airlangga Hartarto said the government has secured energy supplies from outside the Middle East as a precaution against the uncertainty following the war between the United States and Israel and Iran. He noted that the external energy supply alternatives come from the United States via the reciprocal trade agreement, known as the Agreement on Reciprocal Trade (ART), as well as Pertamina’s assets in Venezuela. Airlangga spoke at the National Semiconductors Talent Briefing in Jakarta on Thursday, 5 March 2026, saying, “In terms of alternatives, they are, as it were, already lock-in. This is what we must anticipate going forward.” Pertamina holds a 71.09 percent stake in Maurel & Prom (M&P), one of the oil and gas company’s assets located in Venezuela. The US energy supply is set out in the trade agreement commitments. The ART document includes an agreement to import gas and crude oil worth US$15 billion per year. The imports include LPG valued at US$3.5 billion. Indonesia also buys crude oil worth US$4.5 billion and refined petrol worth US$7 billion. Airlangga also said the current global geopolitical conditions are difficult to predict. The war has also led to investments slowing and adopting a wait-and-see approach. In addition, the conflict has disrupted supply chains, causing oil prices to rise. Nevertheless, he stressed that it is still too early to decide on raising subsidised fuel prices at present.