Kogas to cut spot LNG cargo purchases

Kogas to cut spot LNG cargo purchases

Kogas of South Korea decided to buy fewer spot LNG cargoes in the near future due to the lower domestic demand.

The company has deferred numerous deliveries in the past months due to high stocks, but a senior executive said that the situation has been resolved. Still, the world’s largest LNG buyer will be reducing spot purchases to brace for weak domestic demand, reports Platts.

Decline of the LNG sales has been attributed to the restart of some nuclear power plants and mild temperatures.

The executive also said that Kogas is looking to alter its LNG contracts and eliminate destination restrictions, in order to be able to resell the imported cargoes in case of the change in supply/demand situation.

LNG World News Staff; Image: Kogas

Share this article

Follow LNG World News


<< Aug 2019 >>
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >