Multilateral resource cooperation among Northeast Asian countries: Energy and mineral joint venture prospects

Abstract

Northeast Asia is one of the world’s richest regions in energy and mineral resources. The tremendous reserve base is enhancing prospects for multilateral economic cooperation in the region, including the exploration, development, trade, and utilization of hydrocarbons and precious metals. This article examines the emerging opportunities for regional cooperation in resources within Northeast Asia, while also reviewing historical cooperation in the energy and minerals industry. Potential obstacles to multilateral resource cooperation are also identified. The authors conclude that small- to medium-scale joint venture projects involving energy and minerals have a more reasonable chance of being established in Northeast Asia than do mega-projects.