SEOUL, Jan 16 (Reuters) - South Korea is interested in
importing more U.S. oil and gas to diversify energy sources and
ensure stable supplies given tensions in the Middle East, the
country's industry minister Ahn Duk-geun said on Thursday.
The government may need to increase support for the purchase
of non-Middle East oil, he said.
His comments come as U.S. President-elect Donald Trump, who
takes office on Jan. 20, has vowed to impose tariffs of 10% on
global imports into the U.S., and has said the European Union
should step up U.S. oil and gas imports or face tariffs on the
bloc's exports, including on goods such as cars and machinery.
South Korea has deepened its reliance on crude oil imports
from the Middle East, which accounted for 72% of total imports
in 2023, up from 60% in 2021, according to the energy ministry.
On liquefied natural gas (LNG), South Korea imported 47.2
million metric tons of the super-chilled fuel in 2024, of which
5.7 million metric tons were from the U.S., according to data
from analytics firm Kpler.
Other LNG importing countries such as Vietnam could also buy
from the U.S. to ease its large trade surplus with the world's
top economy, said a senior Hanoi-based diplomat.
The U.S. is the world's top LNG exporter. Sources said that
Trump plans to make it easier for some LNG producers to seek
export permit renewals, while his pick to head the U.S. Energy
Department told senators that his first priority is expanding
domestic energy production, including LNG.