South Korea has finalized energy supply agreements worth 273 million barrels of crude oil and 2.1 million tons of naphtha with four Middle Eastern nations, presidential chief of staff Kang Hoon-sik announced Wednesday upon returning from an eight-day diplomatic swing through the region.
The agreements include Kazakhstan's commitment to supply 18 million barrels of crude oil as part of the broader arrangement, Qazinform reported citing Yonhap. The quantities secured represent more than three months of South Korea's oil consumption under normal operating conditions, according to Kang.
The naphtha contracts—covering 2.1 million tons—equate to approximately one month of demand based on last year's consumption levels. Naphtha serves as a critical feedstock for South Korea's petrochemical and manufacturing sectors.
A key driver behind the push to diversify and secure supplies stems from the effective closure of the Strait of Hormuz since the U.S. war against Iran began in late February. The maritime chokepoint, through which a significant portion of Middle Eastern oil flows, poses substantial risks to South Korea, which depends heavily on energy imports from the region.
To circumvent the disruption, Kang indicated that crude oil and naphtha shipments will be routed through alternative passages unaffected by the Hormuz blockade. The delegation also explored establishing dedicated crude oil storage facilities outside the strategically sensitive waterway with major producing nations.
During the four-country visit, Kang delivered personal letters from President Lee Jae Myung to each nation. The communications expressed deep concern over the escalating Middle Eastern conflict, conveyed Korean solidarity, and called for coordinated efforts to stabilize global energy supply chains.
On April 8, Kazakhstan's President Kassym-Jomart Tokayev received Kang in Astana, where the two sides discussed the energy cooperation framework that has now materialized into the confirmed supply agreements.