By continuing to use this site, you accept the Terms of Use, and Privacy Policy associated with it. We use cookies to improve your user experience, perform audience measurements and allow you to share content on social networks: please see our Cookie Policy to find out more here. Please click on the button to give your consent.

Energy Relations and Policy Making in Asia

Key Points

Trade between the economies of the Gulf Cooperation Council (GCC) and North East Asia (NEA) reached $471 billion in 2013, based almost entirely on oil and gas. The GCC sends 44 percent of its exports to NEA, which depends on the GCC region for a very high proportion of its oil imports. Trade relations are otherwise very limited: the GCC takes only 3 percent of NEA’s exports. 

  • GCC-NEA energy links beyond trade are limited. Restrictive upstream ownership laws have largely restricted GCC-NEA joint ventures to a handful of refining projects. 
  • Current energy trade links are vulnerable to price shocks, distortion of distribution channels, and new sources of hydrocarbons. A possible route to continued trade and cooperation is through opening markets, joint oil stockpiling, technology exchange and a shared understanding of energy security risks. 
  • The environmental agenda – i.e., renewable energy and improved energy efficiency – represents an opportunity. NEA enjoys great expertise in low-carbon technologies and could be a partner of choice for the GCC to adopt new technologies, freeing up reserves for export. Both sides have the opportunity for a broader trade relationship if barriers and bureaucracy can be reduced. 
  • Enhanced communication and trust between the GCC and NEA economies is essential to guard against counterproductive responses to anticipated market dynamics, based on a fear of change and instability

Dataset schema

JSON Schema

The following JSON object is a standardized description of your dataset's schema. More about JSON schema.