Yemen Asks for Higher LNG Prices from Kogas

 Yemen has demanded that South Korea pays market prices for its LNG by the end of the year, stated the Yemeni state news agency.

Yemeni Prime Minister Mohamed Salem Basindwa met with South Korea’s newly appointed ambassador to Yemen, Lee Young-ho, and told him that Yemen had lost hundreds of million of dollars of potential earnings over past years, because of the low price that Kogas had secured in a long-term contract.

The Yemen LNG terminal has three long-term contracts to supply LNG to GDF Suez, Kogas and Total for a total of 6.7 Mtpa.

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LNG World News Staff, August 23, 2013