South Korea’s October LNG imports up almost 38 pct

South Korea, the world’s third buyer of liquefied natural gas (LNG), received 3.79 million tonnes of the chilled fuel in October, a rise of 37.9 percent year-on-year.

Compared to the previous month, LNG imports rose 12.7 percent, according to the customs data.

The data shows that South Korea paid an average of $11.14 per million British thermal units for LNG last month. This compares to $8.12 per mmBtu in October last year.

Qatar, the world’s top LNG producer, remained the dominant source of South Korean imports with 1.15 million tonnes of the chilled fuel imported from Qatar in October, a rise of 34.6 percent on year.

US was the second-largest LNG supplier to Korea last month with 606,414 mt, followed by Australia with 589,101 mt.

The remaining volumes imported into South Korea last month were sourced from Malaysia, Oman, Indonesia, Russia, Nigeria, Angola, Trinidad and Singapore, the customs data shows.

Worth mentioning here, South Korean state-owned Korea Gas recently reported a year-on-year jump of 37.9 percent in its domestic sales.

The company sold 2.59 million tonnes of the chilled fuel which compares to 1.87 million tonnes in the corresponding month last year.

LNG World News Staff