Potential of Cooperation on Oil & Gas Market in Northeast Asia

There is a great potential of both supply and consumption in oil & gas market in Northeast Asia,and the prospects of further cooperation is very broad.Sino-Russia cooperation on oil & gas will lay a crucial foundation for building a regional oil & gas market,and an increasingly opened trading system for oil & gas will also meet Japan and South Korea’s need in building a diversified and stable assurance system of oil & gas supply.The strategic role played by Kozmino Port in Far East Russia and Shanghai oil and gas trading platform in China will be highlighted.Competition and cooperation through market mechanism zoill help to activate the interactions of resource flow and capital flow in Northeast Asia region,thus can also help energy consuming countries in the region to promote their disclosure power in global pricing system and gradually eliminate the Asian Premium.