South Korea to boost LNG imports in push for clean power

Image courtesy of Kogas

South Korea, the world’s second largest buyer of LNG, is expected to boost imports of the chilled fuel for power generation as part of a plan to reduce reliance on coal and nuclear plants.

The country aims to lift its power production capacity by up to a tenth by 2030, mostly using LNG and renewable energy.

A draft policy paper unveiled by Korea’s energy ministry on Wednesday showed it hopes to meet rising demand in the country by adding 5-10 gigawatts (GW) to its installed capacity base – about 4.7-9.5 percent of current capacity – mostly from LNG and renewables, Reuters informs.

But the numbers highlight the challenge Seoul faces in meeting new President Moon Jae-in’s campaign promises. Moon wants to generate 20 percent of Korea’s power from renewables by 2030, up from 5 percent now.

The draft, which provided few numeric details, is the first step in the ministry’s plans to flesh out a new energy policy by the end of October and finalise it by the end of the year, the news agency reported.

South Korea now produces nearly 40 percent of its electricity from coal, followed by nuclear at around 30 percent. The rest comes from LNG, with around 20 percent, oil and others 5 percent, and renewables the final 5 percent.

The ministry plans to close seven old coal-fired power plants by 2022, while banning the building new coal-fired and nuclear power plants, the report said.


Share this article

Follow LNG World News


<< Oct 2019 >>
30 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 2 3

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

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 Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >