Korea, Australia strengthen green partnership amid global supply chain disruptions

The Korea Times

Korea, Australia strengthen green partnership amid global supply chain disruptions

Foreign Minister Cho Hyun and his Australian counterpart Penny Wong recently released a joint statement on energy security. In the midst of the global oil crisis caused by the Middle East conflict, the two sides reaffirmed their mutual commitments to securing fuel supplies. Australia is the largest liquefied natural gas (LNG) supplier to Korea. Korea is one of Australia’s largest suppliers of refined petroleum products, and the largest supplier of diesel. While the focus was on guaranteeing fossil fuel supplies, the two countries have quietly been driving a green revolution that will be pivotal to their economic resilience in the decades to come. The meeting of the two leaders came ahead of the Australian government’s May announcement stipulating producers of LNG on Australia’s east coast will have to set aside 20 percent of their gas exports for domestic users from July 2027 onwards. Importantly, the policy excludes existing export contracts entered into before the government’s previous announcement in December 2025. The exemption should allay concerns from Korean LNG buyers l

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