Financial Wire

Market Chatter: Indonesia Seeks Stronger Regional Alliance to Address Energy Crisis

-- Indonesia has called for stronger regional cooperation in clean and secure energy systems as global energy risks rise amid the Middle East crisis, the Jakarta Globe reported Wednesday.

Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto made the call during a virtual Asia Zero Emission Community summit with core members, along with additional countries, including India, South Korea, Sri Lanka, Bangladesh and Timor-Leste, as well as multilateral bodies such as the International Energy Agency and the Asian Development Bank, according to the report.

The meeting introduced an "assistance package plan" aimed at boosting both immediate energy security and longer-term transition efforts, including emergency supply measures and broader plans to evolve the framework into "AZEC 2.0" backed by around $10 billion in financing, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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