 World oil prices have caused alarm in Asia |
Asian energy ministers are meeting in the Philippines to discuss how to keep supplies safe from terrorist attack. The meeting, which includes members of the Association of South East Asian Nations plus China, Japan and South Korea, will also discuss the oil price.
One proposal is for a regional stockpile of oil and natural gas that members could draw on in a crisis.
Asia boasts some of the most dynamic economies in the world and most depend heavily on imported oil.
Other subjects on the agenda are joint exploration, a broader network of pipelines and renewable energy such as wind power.
The meeting will be expanded on Thursday where officials from the 21-nation Asia-Pacific Economic Cooperation Forum join in.
Asian countries import about two-thirds of the oil they consume.
Like their western counterparts, the ministers meeting here are looking for ways to keep their economies growing in the face of an unpredictable security situation and volatile oil prices.
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