In light of the current global unrest, South Korea and Oman have decided to intensify their collaboration on reliable energy supply chains and the hydrogen industry.
According to the ministry, the commitment was made at a meeting in Seoul between Oman’s Salim bin Nasser Al Aufi, Minister of Energy and Minerals, and Lee Chang-yang, Minister of Trade, Industry, and Energy of Oman.
Lee urged the two countries to cooperate more closely as significant energy trade partners in light of the recent rise in the price of liquefied natural gas (LNG) throughout the world during the discussions.
Oman was the fourth-largest LNG provider to South Korea as of the previous year, contributing 9.6% of Seoul’s overall LNG imports. Oman’s top LNG customer, using 44.2% of all gas exports, was South Korea.
Lee also requested Muscat’s support for South Korean companies’ efforts to participate in a number of energy-related projects in the Middle Eastern nation, including the development of a petrochemical complex at the Duqm refinery.
According to the ministry, “the two sides agreed on closer cooperation on hydrogen fields, including the production of green hydrogen, the establishment of international hydrogen supply channels, and the development of hydrogen vehicles and related fuel cells, by maximizing South Korea’s ample sector experience and Oman’s rich renewable energy resources.”
In addition, Lee asked Oman for help in Seoul’s quest to host the 2030 World Expo in Busan.