From South Korea to Indonesia to Bangladesh, governments are increasingly turning back to coal-fired power generation to help offset a widening shortfall in LNG imports.
The war involving the United States, Israel and Iran has sent a delayed shockwave through global energy markets and nowhere is the impact more acute than at petrol pumps across Asia.
Malaysia has emerged as one of Southeast Asia’s top-performing markets as the war in Iran drives energy prices higher and pushes global investors towards economies better positioned to weather volatility.
China is also increasing its purchases from Russia, with imports estimated at 1.2mn to 1.5mn tonnes – primarily for use as a substitute feedstock in refineries.
The Philippines is currently navigating a perilous and largely overlooked period of economic vulnerability: its national fuel supply could run out in around three to four weeks if international imports don't arrive soon.
Sri Lanka has designated every Wednesday a public holiday to conserve fuel as the country confronts the risk of supply shortages.