South Korea’s July LNG imports rise slightly

Image courtesy of Kogas

South Korea, the world’s second buyer of liquefied natural gas (LNG), received 2.75 million tonnes of LNG in July, a rise of 1.5 percent when compared to 2.70 million tonnes the country imported in the same month last year.

Compared to the previous month, LNG imports dropped nearly 27 percent, according to the customs data.

The data shows that South Korea paid $1.42 billion for LNG last month. This compares to $1.1 billion in July last year.

Qatar, the world’s top LNG producer, remained the dominant source of South Korean imports with 1 million tonnes of the chilled fuel imported from Qatar in July, up by 4.4 percent on year.

Australia was the second-largest LNG supplier to Korea last month with 454,408 mt, followed by the US with 399,567 mt and Oman with 307,444 mt.

The remaining volumes imported into South Korea were sourced from Indonesia, Brunei, Malaysia and Peru.

To remind, South Korea’s Kogas reported a 10.5 percent increase in its domestic natural gas sales in July.

Kogas sold 2.36 million tonnes of LNG equivalent last month, as compared to 2.13 million tonnes in July 2016.

 

LNG World News Staff

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