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South Korea looking at buying more US oil and gas, energy minister says

  • South Korea is considering importing more crude oil and LNG from the United States to diversify its energy supply and reduce its trade surplus with America, according to South Korean Energy and Trade Minister, Ahn Duk-geun.
  • The country is the world’s third-largest importer of LNG and aims to potentially stave off tariffs promised by incoming President Donald Trump.
  • Ahn stated, 'We are thinking about increasing energy imports, and there’s also a need to diversify supplies to improve energy security.'
  • The IMF reported that EU energy market integration could lower prices, improve energy security, and help reduce CO2 emissions for the 27-nation bloc.
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