Asian nations push to store more oil and gas nearer after Hormuz disruption

The Iran-U.S. war six months ago crippled oil flow through the Strait of Hormuz, exposing Asia’s reliance on Gulf supplies and triggering emergency fuel-conservation measures. Experts say the crisis is driving two investment tracks: infrastructure that sidesteps geopolitical risk and facilities that cut dependence on imports. Japan’s Prime Minister Sanae Takaichi launched the $10 billion POWERR Asia initiative to assist Southeast Asian nations in building strategic oil reserves.

In Southeast Asia, Thailand and the Philippines are moving to meet the International Energy Agency’s 90-day benchmark, while Vietnam’s reserves cover only a few weeks. India’s Oil and Natural Gas Corporation plans a new 1.75 million-metric-tonne reserve in the south, adding to existing stockpiles. Gulf exporters such as ADNOC are expanding storage in Singapore, South Korea and Japan, and discussions are under way to place part of India’s reserves at the UAE’s Fujairah port. Across the region, policymakers are emphasizing diversified supply routes, larger domestic inventories, and reduced exposure to single chokepoints.