King Salman of Saudi Arabia recently wrapped up a four-week, five-country visit to Asia that highlighted among other things, the growing energy relationship between the Gulf Cooperation Council (GCC) and Asia.
With Asia’s energy demand projected to almost double by 2030, oil and gas imports from the GCC states will play an important role in addressing this growth. The GCC states’ exports to Japan, South Korea, China and India are already more than three times larger than to the United States and the European Union, and the figure is set to grow over the remainder of this decade.
More significantly, the energy relationship between the GCC and Asia will be evolving from simple transactions between buyers and sellers of energy, to encompass developments across the upstream and downstream sectors.
Read more from The Washington Post on the developments of this relationship and the implications for both regions.
By: The Washington Post
