South Korea, Australia expand energy cooperation AMID MIDDLE EAST CRISIS

South Korea and Australia have agreed to strengthen cooperation on energy security amid disruptions in global markets caused by the crisis in the Middle East.

The commitment was outlined in a joint statement ahead of a meeting between South Korean Foreign Minister Cho Hyun and Australian Foreign Minister Penny Wong in Seoul, Caliber.Az reports, citing Korean media.

The two sides said they aim to coordinate efforts to ensure stable supplies of diesel, liquefied natural gas (LNG), and other energy resources.

“The ROK (Republic of Korea) and Australia share deep concern over the situation in the Middle East and its consequences for our region, including impacts on energy, resources and other important commodities,” the statement said.

The countries also agreed to expand information sharing, provide early warnings about potential supply disruptions where possible, and support open and stable energy markets.

Australia remains a key supplier of LNG and condensate to South Korea, while South Korea is an important exporter of refined petroleum products, including diesel fuel.

The Middle East crisis, which began after a military escalation involving Iran, has disrupted logistics and increased instability in energy markets, including restrictions on key shipping routes.

By Bakhtiyar Abbasov