Korea, Qatar affirm LNG prioritization, energy cooperation amid supply disruptions

Korea and Qatar have discussed cooperation in energy and other cutting-edge industries, Seoul's Ministry of Trade, Industry and Resources said Monday, amid lingering supply disruptions caused by geopolitical uncertainties.

Industry Minister Kim Jung-kwan met with Qatari Energy Minister Saad bin Sherida Al Kaabi in Qatar, where the two sides reaffirmed Qatar's vow to prioritize the supply of liquefied natural gas (LNG) to Korea, according to the industry minister.

Qatar had declared force majeure on its long-term LNG supply contracts with Korea and other countries in March due to damage caused by Iran's missile attacks on its facilities.

During the meeting, Qatar reaffirmed its commitment to giving top priority to Korea in the supply of LNG and condensate based on the strong mutual trust between the two countries.

Kim also asked for the Middle Eastern nation's proactive support for Korean companies seeking to participate in new energy plant projects set to be launched after the war.

In a separate event, Kim also met with Qatari Industry Minister Sheikh Faisal bin Thani bin Faisal Al Thani, where the two sides vowed to expand bilateral economic ties beyond the energy sector to cover shipbuilding and other emerging industries.

"Amid growing geopolitical uncertainties, the strong trust and cooperation between Korea and Qatar carry significant meaning in ensuring stable energy supplies and global supply chains," Kim said.

Kim added that Korea will continue to maintain close high-level communication with Qatar and expand cooperation into future growth engines.

Yonhap