By Amanda Lee
Australia and Singapore plan to ramp up cooperation to boost energy security, following severe disruptions to global energy supply chains due to the Middle East conflict.
"Australia and Singapore share deep concern over the situation in the Middle East and its consequences for our region, such as the impact on energy supply chains and prices," Singapore Prime Minister Lawrence Wong and Australian Prime Minister Anthony Albanese said Monday.
With the Iran war extending into the fourth week, markets are becoming more concerned that the conflict will lead to lasting economic damage and a prolonged energy-supply disruption.
A key focal point is the blockage of the Strait of Hormuz, an important shipping lane for global oil and gas supplies, as well as other key materials including fertilizers.
Australia and Singapore plan to explore bilateral arrangements to consult and notify each other about potential supply disruptions. The two countries also aim to strengthen energy supply chain resilience via accelerating the renewable energy transition, addressing unjustified import and export restrictions, as well as maintaining open trade flows.
Meanwhile, the countries pledged to support the flow of essential goods such as diesel and liquefied natural gas.
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
March 23, 2026 02:36 ET (06:36 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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