ABSTRACT
Due to rapid economic growth in East Asia, the region’s energy consumption is increasing at the fastest pace in the world. As a result, many problem areas in the East Asian energy fi eld have been exposed: the rapid growth of oil consumption and a heavy dependence on oil imports, especially from the Middle East; the length of sea lanes; paying extra prices known as an “Asian premium” to Middle East producers; and the rapid increase of CO 2 emissions and other environmental pollutants. These problems cannot be solved through the unilateral efforts of individual countries; rather, international, especially regional, cooperation is required.
