▲ This file photo, provided by South Korea's Ministry of Trade, Industry, and Energy, shows Minister Lee Chang-yang (R) posing for a photo with Oman's Minister of Energy and Minerals Salim bin Nasser Al Aufi ahead of their talks in Seoul on Sept. 5, 2022. (PHOTO NOT FOR SALE) (Yonhap)

S Korea-Oman-energy ties

S. Korea seeks Oman's support for corporate participation in green hydrogen projects

SEOUL, May 25 (Yonhap) -- South Korea asked for Oman's support Thursday for its companies seeking to take part in the Middle Eastern nation's major green hydrogen projects, as the two nations agreed to enhance their energy relations, Seoul's industry ministry said.

Second Vice Industry Minister Kang Kyung-sung made the request during a meeting with Mohsin bin Hamad bin Saif Al Hadhrami, Oman's energy undersecretary, held in South Korea's southern port city of Busan on the sidelines of the 2023 World Climate Industry Expo, according to the Ministry of Trade, Industry and Energy.

Oman launched the green hydrogen project worth more than US$6 billion, which includes the construction of a plant to produce clean hydrogen, and the consortium of POSCO Holdings and Samsung Engineering Co. of South Korea was recently selected as a preferred negotiator.

Kang said South Korean companies secure advanced technologies and ample experiences, and their envisioned participation in the project is expected to further enhance the bilateral energy relationship, according to the ministry.

The two sides also discussed ways to beef up bilateral cooperation on the plant construction and the overall energy fields through joint energy projects to ensure stable energy supply chains.

In 2021, Oman was the fourth-largest liquefied natural gas (LNG) supplier to South Korea, accounting for 9.6 percent of Seoul's total LNG imports. South Korea was Oman's No. 1 LNG buyer, taking up 44.2 percent of Oman's total gas exports.

South Korea has been pushing to promote its industrial and economic ties with Middle Eastern nations, including Saudi Arabia, the United Arab Emirates and Bahrain, to diversify and further expand its export market.

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