LNG (LIQUIFIED NATURAL GAS)

Korea Gas to buy Qatari LNG

The closure of two Korea Electric nuclear power plants has meant that South Korea's largest LNG b...

Korea Gas has also informed RasGas that that amount may increase to meet potential demand increases.

According to Korea Gas procurement manager Cho Jin Bok, "RasGas will deliver 60,000 tonnes of LNG to Korea Gas on March 10, with a second cargo following around April 10."

The closure of the Korea Electric Yonggwang-5 plant on 29 December due to a radiation leak and the shutdown of the Yonggwang-6 plant for maintenance - until 15 March - have meant that South Korea has had to turn to gas and fuel oil power plants to meet the country's electricity needs.

In a statement to the press, Korea Gas stated, "[We have] agreed to raise the supply of natural gas to Korea Electric's five power-generating affiliates by 332,000 tonnes to 2.31 million tonnes between February and April."

An official at the company, Oh Moo Jin, confirmed, "We are importing between 30 cargoes and 40 cargoes a month through spot and contract deals. There will be no problem in meeting gas demand unless the closure of the nuclear power plants is extended."

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