, South Korea

South Korea, Saudi Arabia eye continued cooperation for energy supply chain

The two markets aim to collaborate on oil and hydrogen.

South Korea’s Trade, Industry and Energy Minister Lee Chang-yang and Saudi Arabia's Energy Minister Prince Abdulaziz held a videoconference to tackle bilateral cooperation in energy sectors, including the potential collaboration for hydrogen.

In a statement, South Korea’s Ministry of Trade, Energy and Industry highlighted communication and collaboration as key aspects for stabilisation policies for the oil market.

South Korea sources most of its crude oil from Saudi Arabia, with the two agreeing to the continued collaboration in petrochemicals and other energy and industry sectors to stabilise the supply chain.

READ MORE: South Korea to strengthen energy cooperation with ASEAN

The two markets also recognised the high potential for hydrogen cooperation on the back of Korea’s strength in hydrogen utilisation and Saudi Arabia's in production.

“By organizing and aligning the two countries’ hydrogen systems and encouraging joint efforts in hydrogen policies, mobility and ammonia development, both sides will be able to build their respective domestic hydrogen ecosystems.

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!