In a bid to fortify bilateral relations amidst global energy market uncertainties, South Korean industries minister Bang Moon-kyu and Qatari energy minister Saad Sherida Al-Kaabi discussed ways to bolster the energy and shipbuilding supply chain between the two nations, according to the ROK Ministry of Trade, Industry and Energy. Bilateral trade volume hit a record $17.1 billion in 2022. Qatar, previously South Korea’s largest liquified natural gas (LNG) supplier, signed a deal last year for 54 LNG carriers worth $11.58 billion and anticipates more contracts in the latter half of this year.

Bang emphasized the long-standing trust between the two nations, underpinned by the steady supply of LNG. He proposed broadening cooperation to encompass other energy forms, such as hydrogen and renewable sources. Bang also highlighted potential additional contracts for LNG carriers and sought Qatar’s engagement in large-scale energy projects involving Korean firms. The ministers wrapped up their meeting agreeing to explore future high-level exchanges and investments, especially in renewable energy distribution and the production of hydrogen and ammonia.