TEMPO.CO, Jakarta - Coordinating Minister for Economic Affairs, Airlangga Hartarto, stated that the government has secured energy supplies from outside the Middle East. This step anticipates uncertainty following the outbreak of war involving the United States, Israel, and Iran.
Airlangga mentioned that alternative energy supplies outside the Middle East come from the United States through the Reciprocal Trade Agreement (ART) and state-owned oil and gas giant Pertamina's assets in Venezuela.
"In terms of alternatives, it's already locked in quotation marks. This is what we also need to anticipate in the future," he said during a speech at the National Semiconductor Talent Briefing in Jakarta on Thursday, March 5, 2026.
Pertamina is the majority shareholder with 71.09 percent ownership in Maurel & Prom (M&P), an oil and gas asset located in Venezuela.
Meanwhile, the oil supply from the United States is stipulated in a trade agreement commitment. The ART document includes an agreement to import gas and crude oil valued at US$15 billion per year. This import includes LPG purchases worth US$3.5 billion. In addition, Indonesia buys crude oil valued at US$4.5 billion and processed gasoline valued at US$7 billion.
Airlangga also stated that current global geopolitical conditions are difficult to predict. The war causes investors to pause and reconsider (wait and see). In addition, the conflict disrupts the supply chain, leading to higher oil prices. However, he confirms it is too early to decide on subsidies regarding the current fuel price hike.
Read: Japan-Indonesia Oil Reserves Disparity Amid Iran War Explained
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