South Korea Aug LNG imports down

South Korea, the world’s second-largest buyer of LNG, imported 2.54 million tonnes of LNG August, down 22 percent from the same month in 2013.

The average LNG price paid rose 10 percent to $16.20/mn Btu in August, compared to the year before.

High stocks and weak demand in South Korea urged state-owned Kogas to offload cargoes this summer through time-swap deals and by deferring deliveries from long-term suppliers.

LNG World News Staff, September 16, 2014