Energy security has, over the years, become an issue of great importance, but today, it's considered critical in international relations, for global safety and even for the survival of humanity.
The renewed focus on energy security is driven in part by an exceedingly tight oil market and high oil prices, but also by the threat of terrorism, instability in some exporting nations, geopolitical rivalries, and the fundamental need of countries for energy to power their economies.
To discuss the growing importance of energy cooperation, we are joined live in the studio by Dr. Kim Youn-kyoo.
Dr. Kim is the director of the Center for Energy Governance and Security at Hanyang University and a professor of international relations.
Professor Kim, welcome to the program.
Professor Kim, I think it's now safe to say that energy security no longer stands by itself, but is entrenched in the larger relations among nations and how they interact with one another.
I'm sure the global energy security situation was high on the agenda at the Pacific Energy Summit last week. You were there yourself?
Give us a brief overview and tell us - how does Korea fit in that equation?
Korea is also looking to become what's called the "oil hub" - center of logistics and trading services, which serves as a commercial storage tank terminal in the major world sea route.
Why is Korea being named as one of the favorites?
Back in May, Russia and China signed an historic 400 billion dollar, 30-year gas deal which sparked a lot of excitement worldwide.
The scope of the deal only highlights the growing importance of cooperation in the field of energy security.
How significant is this?
We know that there is a gas pipeline project connecting Russia and South Korea through North Korea. It's a huge economic project but also a geopolitical one, as well.
What's your outlook on that?
Professor Kim Youn-kyoo, director of the Center for Energy Governance and Security at Hanyang University thank you for sharing your insights with us this evening.
We appreciate it.