Seoul: South Korea and the United Arab Emirates (UAE) held discussions focusing on enhancing strategic cooperation in the energy sector. This includes collaboration on joint oil reserves and nuclear power plant projects, as reported by the industry ministry on Tuesday.

According to Yonhap News Agency, Industry Minister Kim Jung-kwan engaged in talks with Musabbeh Al Kaabi, CEO of upstream at Abu Dhabi National Oil Company. The discussions centered on ensuring a stable supply of crude oil. The Ministry of Trade, Industry and Resources highlighted that the importation of 24 million barrels of crude oil from the UAE, secured under a March agreement, is progressing without issues.

The meetings covered various aspects of bilateral energy cooperation, such as establishing new supply routes that bypass the Strait of Hormuz, facilitated by large-scale infrastructure projects. Minister Kim also sought the UAE's support for South Korean companies aiming to participate in energy initiatives within the Middle Eastern region.

Further discussions with Sharif Salim Al Olama, the UAE's undersecretary for energy affairs, explored potential joint nuclear energy projects in third countries. Minister Kim emphasized the significance of the UAE as a vital partner for South Korea amidst geopolitical uncertainties in the Middle East, reinforcing the strategic nature of their oil supply relationship.

Kim's visit to the Middle East, which includes stops in Saudi Arabia and Qatar, is part of South Korea's broader effort to strengthen partnerships in the region, particularly in light of global energy supply disruptions. South Korea, being Asia's fourth-largest economy, is heavily reliant on energy imports to meet its needs.