South Korea and Japan have agreed to expand co-operation on LNG and crude oil supply, including on stockpiling and petroleum product swap arrangements.
President Lee Jae-myung and Prime Minister Sanae Takaichi said after a meeting in Lee's home town of Andong that they would deepen co-ordination to stabilise energy supply lines and expand co-operation with other Asian partners, as supply disruption from war in the Gulf strains their import-dependent economies.
"Recent instability in supply chains and energy markets stemming from the situation in the Middle East has further underscored the need for close co-operation between our two countries," Lee said in a joint media statement on Tuesday.
