China, Japan and North and South Korea should work together, possibly under a joint governing agency, on securing oil from Russia to lower costs and increase regional energy security, researchers said over the weekend.

Speaking in Changchun at at the Greater Tumen Initiative Investment Forum, which is named after a Northeast Asian river, scholars from the Korea Energy Economics Institute, the Japan-based Economic Research Institute for Northeast Asia and other study centers recommended working together despite competition for bilateral oil supply agreements with Russia.

"Not infrequently there is intense competition among consumers for energy supply sources and it is difficult to build normal cooperative relationships," said Susuma Yoshida, board chairman of the Economic Research Institute for Northeast Asia.

"However, vast amounts of money are required to develop resources, so long-term, stable development will be difficult unless countries combine their efforts," he said.