How the Middle East war is reshaping Asia’s upstream strategy, with Prateek Pandey

Let’s Talk Energy and try to understand how the war in the Middle East is changing how companies and countries think about producing energy in Asia. Nowhere – outside of the Middle East itself - has been impacted more by the ongoing conflict between the US and Israel and Iran and the de facto closure of the Strait of Hormuz than Asia, which receives the lion’s share of the region’s oil and LNG exports. The loss of that crucial supply has led countries to declare energy emergencies, tapping reserves, rationing supplies and trying to find ways to reduce demand such as shortening in-office work weeks. For private companies and national champions alike, the war has reinforced the imperative to find diverse sources of supply that don’t have to travel through increasingly fragile chokepoints in global trade.

• How might companies adjust their future strategies in response to the immediate supply shock created by the war?

• What is the potential of the region to meet its own growing demand for oil and natural gas?

• Will more secure, regional supplies come at a higher cost for consumers?