South Korea Aims for Reduced Oil Dependence by 2035

South Korea has set an ambitious goal to reduce its dependence on Middle Eastern crude oil from 70% in 2025 to just 50% by 2035. The country's Ministry of Industry is pushing for a 'radical transformation' of supply chains, citing disruptions caused by the ongoing conflict in the region.

The war has led to naphtha shortages, affecting South Korea's petrochemical industry. To mitigate this, the government aims to secure additional condensate supplies, which are widely used to produce naphtha.

For natural gas, Seoul is seeking to keep Middle Eastern imports below 30% by 2035, down from 20% in 2025. The plan reflects the country's broader push to strengthen energy security and reduce exposure to geopolitical disruptions.