South Korea looking at buying more US oil and gas, energy minister says (updated)

SK Innovation

16/01/2025 05:40

(Add background in paragraphs 3-5)
       SEOUL, Jan 16 (Reuters) - South Korea is interested in
importing more U.S. oil and gas to diversify energy sources and
ensure stable supplies given the tensions in the Middle East,
South Korea's energy minister Ahn Duk-geun said on Thursday. 
    He told reporters that the government may need to increase
support for the purchase of non-Middle East oil to help
companies diversify their energy sources.    
         His comments come as U.S. President-elect Donald Trump,
 who takes office on Jan. 20, has vowed to impose tariffs of 10%
on global imports into the U.S. 
        Trump has said the European Union should step up U.S.
oil and gas imports or face tariffs on the bloc's exports that
include goods such as cars and machinery. 
        South Korea is the world's fourth-largest buyer of crude
and gas, according to the Korea National Oil Corporation, and
the ninth-largest energy consumer. 

 (Reporting by Hyunjoo Jin; Editing by Christian Schmollinger
and Jamie Freed)
 ((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))