Northeast Asia Energy Cooperation to Improve Regional Energy Security

Efforts to enhance energy security and therefore economic security in North East Asia are gaining ground in the last few years. World energy demand is anticipated to increase 53% by 2030, increasing pressure on countries to ensure their energy security. In NE Asia, regional energy projects that could aid energy security have been under development for several years, but few have reached the implementation stage. If implemented, the projects would improve the economics of energy supply in the region. Regional projects could distribute the costs among a larger group of investors. And if the consumer nations of China, Japan and South Korea worked together to negotiate energy contracts with the supplier nation, Russia, they could improve the reliability of their energy supply and Russia could improve the reliability of the market for its energy. Projects such as grid interconnections could better ensure backup energy supplies are available where needed in an emergency. Regional projects could create some efficiency in project implementation, for example completing a pipeline from Russia, through Japan, and into North and South Korea, instead of doing such a project piecemeal as each country is convinced to invest.