NZ Strengthens Indo-Pacific Energy Ties as Global Oil Markets Face Turbulence

Minister Watts said New Zealand’s participation in the ministerial forum demonstrates its commitment to ensuring stable energy supply networks and stronger partnerships with Indo-Pacific economies.

New Zealand Energy Minister Simon Watts will travel to Japan from 14–15 March 2026 to participate in the Indo-Pacific Energy Security Ministerial and Business Forum, joining government leaders, policy experts, and energy industry representatives from across the region. The visit comes at a time of heightened geopolitical tensions and volatility in global oil markets, underscoring the growing importance of energy security and international cooperation.

The forum will focus on strengthening regional energy supply chains, improving resilience against fuel disruptions, and accelerating collaboration between governments and private sector energy companies across the Indo-Pacific.

Rising Global Tensions Put Energy Security in Focus

The meeting takes place against the backdrop of continuing instability in the Middle East, a region responsible for a significant share of global oil production. Disruptions in the region have heightened concerns about global fuel supply, shipping routes, and price volatility, prompting governments worldwide to reassess their energy preparedness.

Minister Watts said New Zealand’s participation in the ministerial forum demonstrates its commitment to ensuring stable energy supply networks and stronger partnerships with Indo-Pacific economies.

“As the world grapples with recent developments in the Middle East and increasing geopolitical uncertainty, energy security has never been more critical to the economic prosperity of New Zealand and our partners across the Indo-Pacific region,” Watts said.

Strengthening Global Fuel Supply Chains

A key priority for the New Zealand delegation will be discussions around liquid fuel security, including ensuring stable supply chains for petrol, diesel, aviation fuel, and other refined products vital to transportation, trade, and industry.

New Zealand relies heavily on imported refined fuels, making international cooperation essential to maintaining supply stability. The country imports most of its fuel from regional refining hubs such as Singapore, South Korea, and Japan, meaning any disruption in global shipping lanes or refinery output could impact domestic supply.

“New Zealand’s presence at the Indo-Pacific Energy Security Ministerial is essential to reaffirm our commitment to secure and diversified global energy supply chains, particularly for liquid fuels,” Watts said.

New Zealand’s Fuel System Designed for Resilience

Despite global market uncertainties, the government says New Zealand’s fuel infrastructure is well positioned to handle potential disruptions.

“Our fuel system is resilient, our stocks are healthy, and our contingency plans are built precisely for moments like this,” Watts said.

The government has implemented several measures in recent years to improve fuel security, including:

• Strategic fuel stockholding requirements for companies operating in New Zealand• Participation in the International Energy Agency (IEA) collective emergency oil sharing system• Strengthened supply monitoring and coordination with fuel companies• Diversification of import sources and supply routes

New Zealand is also required under its IEA membership obligations to maintain emergency fuel reserves equivalent to at least 90 days of net oil imports, ensuring the country can manage short-term supply shocks.

Officials confirmed that authorities are closely monitoring international fuel markets and remain in regular communication with domestic fuel suppliers to track any potential impacts.

International Energy Agency Collective Action

The Indo-Pacific forum also comes shortly after the International Energy Agency (IEA) signalled it is prepared to take collective action to stabilise global oil markets if supply disruptions intensify.

The IEA’s coordinated response mechanisms allow member countries to release emergency oil reserves and collaborate on market stabilisation measures during global energy crises.

Watts said the forum will provide a critical opportunity to engage directly with New Zealand’s closest economic partners and coordinate regional responses to emerging energy challenges.

“In light of the IEA’s decision to proceed with collective action, this forum provides a valuable opportunity to engage directly with our key trading partners and reinforce the importance of international collaboration on energy security,” he said.

Indo-Pacific Cooperation Key to Future Energy Stability

The Indo-Pacific region plays a crucial role in global energy markets, hosting some of the world’s largest fuel importers, refining hubs, and shipping routes. Strengthening cooperation across the region is seen as vital to ensuring reliable supply chains amid shifting geopolitical dynamics.

Discussions at the forum are expected to cover:

• Energy supply chain resilience

• Strategic fuel reserves and emergency coordination

• Energy market stability

• Collaboration between governments and energy companies

• Long-term transitions toward cleaner energy systems

New Zealand has increasingly focused on building stronger energy partnerships across Asia and the Pacific to support both fuel security and the transition to low-emissions energy systems.

Travel Details

Minister Watts will attend the Indo-Pacific Energy Security Ministerial and Business Forum in Japan from 14 to 15 March 2026 and is scheduled to return to New Zealand on Monday 16 March.

The visit marks another step in New Zealand’s broader strategy to strengthen regional energy cooperation, protect fuel supply resilience, and ensure long-term energy security in an increasingly uncertain global environment.