Government Strengthens Cooperation with Oman on Energy Infrastructure and Renewable Energy

Andeok Geun, Head of the Trade Negotiation Department at the Ministry of Trade, Industry and Energy, is speaking at the 2nd Export Situation Review Meeting held at the Korea International Trade Association in Gangnam-gu, Seoul on the 6th. Photo by Moon Honam munonam@

[Asia Economy Sejong=Reporter Dongwoo Lee] The government is strengthening cooperation with Oman in new industries such as energy infrastructure, renewable energy, and green hydrogen.

The Ministry of Trade, Industry and Energy announced on the 20th that Andeokgeun, Director General for Trade Negotiations at the ministry, met with Khalifa bin Ali Al Harthy, Undersecretary for Political Affairs of the Ministry of Foreign Affairs of Oman, at Lotte Hotel in Jung-gu, Seoul.

The representatives of both countries shared the recognition that securing a stable energy supply chain is important amid growing uncertainties in the international gas market, and agreed to expand cooperation in new energy industries based on energy and infrastructure-centered trade between the two countries.

This year, the trade volume between Korea and Oman is expected to reach the highest level in the past five years. 80% of the total trade volume is natural gas, and Oman is the fourth largest supplier of liquefied natural gas (LNG) to Korea after Qatar, Australia, and the United States.

Director General And said, "Our companies are participating in the Duqm refinery project and seawater desalination plant projects," and added, "We hope to continuously contribute to Oman's economic and social development."

He also proposed holding the 'Korea-Oman Economic Joint Committee' soon to discuss investment achievements and energy cooperation measures between the two countries.

Furthermore, as free trade agreement (FTA) negotiations between Korea and the six Gulf Cooperation Council (GCC) countries resumed for the first time in 13 years, both sides agreed to utilize the FTA as an institutional foundation to expand trade and investment between the two countries.

Director General And also requested the Oman Ministry of Foreign Affairs to support the bid for the 2030 Busan World Expo.

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