South Korea, Japan, and other Indo-Pacific nations issued a joint statement welcoming U.S. liquefied natural gas development and exports. The Korean government also agreed to strengthen cooperation with the United States in critical minerals as well as natural gas.
Minister of Trade, Industry and Energy Kim Jeong-kwan attended the Indo-Pacific Energy Security Ministerial Meeting held in Tokyo, Japan, on Thursday. The meeting, jointly hosted by Japan's Ministry of Economy, Trade and Industry and the U.S. National Energy Council, was the first of its kind, bringing together senior government officials from 17 major Indo-Pacific nations including the United States, Japan, Australia, the Philippines, Indonesia, Thailand, and Vietnam.
Ministers at the meeting reached consensus on the need to expand energy security cooperation and issued the "Indo-Pacific Energy Security Ministerial Joint Statement."
A notable aspect of the meeting was that pressure from the United States—which hosted the event—to invest and purchase was evident in the joint statement. Through the statement, the ministers said, "We reaffirm our commitment to strengthening regional energy security through reliable, abundant, and affordable energy supplies," adding, "We welcome LNG exports to the Pacific region from the United States and other emerging supplier nations."
The statement also noted, "We note the efforts of the World Bank, Asian Development Bank, and other international financial institutions to expand funding for energy projects, including nuclear power projects," emphasizing that "countries with particular interest intend to accelerate cooperation in the nuclear power sector to promote deployment of small modular reactors (SMRs) and other advanced technologies."
Meanwhile, the Korean government held bilateral talks with the United States and signed a critical minerals framework between the two governments. Under this memorandum of understanding, both countries agreed to explore various cooperation measures including joint project development and investment promotion, stockpiling, resource recycling, and geological resource surveys. An LNG import contract was also signed between Hanwha Aerospace and U.S.-based Venture Global. Minister Kim said, "I hope cooperation between our two countries in the natural gas sector will continue, if only to reduce uncertainties in global supply chains."
