Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung will discuss at their summit to set up a joint crude oil procurement framework, including a shared reserve, Nikkei Asia reported Tuesday.
Takaichi's two-day South Korea visit is part of ongoing shuttle diplomacy, with the Middle East situation likely topping the leaders' agenda, the news agency said.
The joint reserve initiative will fall under the POWERR Asia framework, an energy cooperation scheme with Southeast Asia that Takaichi announced in April, designed to help develop petroleum supply systems in countries with limited reserves, the publication said.
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