Seoul is turning to Kazakhstan to secure its oil in the face of tensions in the Middle East

South Korea is on the verge of concluding a strategic agreement with Kazakhstan to secure its crude oil supplies amid severe energy disruptions linked to the war in the Middle East. The announcement was made by the South Korean Minister of Industry, who cited significant progress in the negotiations.

“There has been significant progress,” said Minister Kim Jung-kwan, adding that the volumes and details of the agreement should be announced in the coming days. This initiative is part of a strategy to diversify Seoul’s energy supply sources.

Earlier this month, a South Korean delegation, including presidential chief of staff Kang Hoon-sik, traveled to Kazakhstan to secure deliveries of crude oil and naphtha. This move follows disruptions to maritime traffic in the Strait of Hormuz, a key waterway for global energy exports.

Despite the geographical distance, South Korean authorities estimate that delivery times from Kazakhstan remain comparable to those from the United States, at approximately 50 to 60 days. This logistical factor reinforces Seoul's interest in this energy alternative.

Heavily reliant on imports, South Korea sources approximately 70% of its oil from the Middle East. To reduce this vulnerability, the country is forging numerous agreements: last month, it also secured a commitment from the United Arab Emirates to supply 24 million barrels of crude oil.

This strategy illustrates Seoul's desire to secure its supplies in an unstable geopolitical environment, where energy diversification is becoming an imperative to guarantee the country's economic stability.