South Korea boosts July LNG imports

Image: Kogas

Liquefied natural gas (LNG) imports into South Korea, the world’s second-largest buyer of the fuel, rose by 41.6 percent in July year-on-year.

The country imported 2.72 million mt of LNG in July as compared to 1.92 million mt in the corresponding month the year before, according to the customs data.

The data shows that South Korea paid about $1.1 billion for LNG imports last month.

Qatar, the world’s biggest LNG exporter, remained the dominant source of South Korean imports with 964,861 mt of the chilled fuel imported from Qatar in July, up by 17.3 percent on year.

Australia was the second-largest LNG supplier to Korea last month with 383,975 mt, followed by Indonesia with 366,383 mt and Malaysia with 357,779 mt.

The remaining volumes imported into South Korea were sourced from Brunei, Oman, USA, Russia and Angola.

Worth mentioning, South Korea’s Kogas reported last week a 2.4 percent decrease in its domestic natural gas sales in July.

Kogas sold 2.13 million mt of LNG equivalent last month, as compared to 2.18 million mt in July 2016.

The company currently operates 69 storage tanks in 4 LNG receiving terminals in South Korea. It imports about 96 percent of Korea’s demand for LNG.

 

LNG World News Staff

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