Leaders of South Korea and Japan have agreed to deepen cooperation on energy security and regional defense coordination amid the Middle East conflict and pressures on Asia’s import-dependent economies.
South Korean President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi announced the plans on May 19 following talks in Andong, South Korea.
The two leaders pledged to expand cooperation on liquefied natural gas and crude oil supplies, including stockpiling arrangements and petroleum product swap agreements.
“Recent instability in supply chains and energy markets stemming from the situation in the Middle East has further underscored the need for close cooperation between our two countries,” Lee said in a May 19 joint statement….
Seoul, Tokyo Boost LNG, Crude Oil Cooperation Amid Supply Concerns
