Sourced fact
The News
According to Al Jazeera, Asian economies are racing to build up storage capacity to reduce their exposure to conflict in the Middle East.
Analysis & context
Analysis & Context
Analytically, the Middle East is a crucial center for energy, with massive amounts of oil and gas flowing through the region. The crisis in the Strait of Hormuz, a vital passage for oil and gas, has raised concerns among energy-importing countries in Asia. In a broader context, Asian countries are moving towards greater energy independence by constructing local storage facilities and diversifying their energy sources.