South Korea’s LNG imports up in May

Liquefied natural gas (LNG) imports into South Korea, the world’s second-largest buyer of the fuel, rose by 12.4 percent in May year-on-year.

The country imported 2.49 million mt of LNG in May as compared to 2.21 million mt in the corresponding month the year before, according to the customs data.

The data shows that South Korea paid about $1.08 billion for the LNG imports last month.

Qatar, the world’s top LNG exporter, remained the dominant source of South Korean imports with 648,321 mt of the chilled fuel imported from Qatar in May.

Australia was the second-largest LNG supplier to Korea last month with 509,230 mt.

The remaining volumes imported into South Korea were sourced from Malaysia, Oman, Indonesia, Russia, Algeria, USA, Agnola and Brunei.

To remind, South Korea’s Kogas said Thursday it started commercial operations of three LNG storage tanks at its Samcheok receiving terminal located some 290 kilometers east of Seoul.

The Samcheok import terminal now has a total storage capacity of 2.6 million cubic meters of LNG in twelve storage tanks.

Including the latest additions, Kogas operates in total 74 LNG storage tanks in South Korea and overseas.

The company imports approximately 96 percent of Korea’s LNG demand via its four LNG terminals, namely Incheon, Pyeongtaek, Tongyeong and Samcheok.

LNG World News Staff