BANGKOK: The war in Iran has exposed major risks for Southeast Asia that could cost the region many billions of dollars if it does not diversify sources of energy more quickly, according to an International Energy Agency report released Tuesday. An overreliance on oil and gas transported through the Strait of Hormuz left the region particularly vulnerable to shocks from the Iran war, a “stark wake-up call” for its energy security, the report says.

Strait of Hormuz crisis reinforces need for Southeast Asia to tackle major energy vulnerabilities - News from the International Energy Agency

The International Energy Agency says Southeast Asia’s power sector is too open to risks from its dependence on imports of oil and gas from a limited number of suppliers.