Meta Data
Draft: 
No
Revision of previous policy?: 
No
Draft Year: 
1986
Effective Start Year: 
1987
Effective End Year: 
2009
Scope: 
Multilateral
Document Type: 
Agreement
Economic Sector: 
Energy
Energy Types: 
Oil
Issued by: 
The Governments the ASEAN Member States
Overall Summary: 
This Agreement establishes the ASEAN Emergency petroleum Sharing Scheme for crude oil and /or petroleum products in times/circumstances of both shortage and over supply. The aim is to contribute to the strengthening of the economic resilience of each Member Countriy as well as to the economic resiIience and solidarity of ASEAN.
Pricing
Cooperation in energy pricing: 
The prices and other conditions shall be, subjected to bilateral negotiations between the appropriate parties.
Trade
Bi- and multi-lateral energy agreements: 
The Governments of the ASEAN Member Countries hereby agree to establish the ASEAN Emergency Petroleum Sharing Scheme for crude oil and/or petroleum products in times/circumstances of both shortage and over supply.---In the event of critical shortage or when at least one Member Country is in distress, the oil exporting members of ASEAN commit to supply, towards meeting such shortage, that amount of indigenous ASEAN crude oil and/or indigenous ASEAN petroleum products equivalent to crude production capability plus available imports of crude oil and/or petroleum products less: (a) the amount contractually committed to traditional buyers (b) domestic consumption; (c) crude oil and/or petroleum products exports by oil contractors/ operators or refiners serving mainly international markets, to which the government has no entitlement, and (d) the amount of crude oil and/or petroleum products not owned directly by the government, taking into account processing facilities in the distressed country/countries.---In times of indigenously - sourced crude oil and/or petroleum products oversupply, the importing Member Countries should, so far as practicable, purchase exports of Member Countries in distress so as to raise the latter's exports to at least 80 per cent of the normal exports[...].
Standard power production and purchasing agreements: 
The Governments of the ASEAN Member Countries hereby agree to establish the ASEAN Emergency Petroleum Sharing Scheme for crude oil and/or petroleum products in times/circumstances of both shortage and over supply.