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2022-04-25 14:30:00

U.S. LNG FOR S.KOREA

U.S. LNG FOR  S.KOREA

ENERDATA25 Apr 2022 - The South Korean state-owned gas company Korean Gas Corporation (Kogas) has signed an 18-year contract to import 1.58 Mt/year of US-produced LNG from BP, through its Singaporean affiliate BP Singapore. The contract, whose price is indexed on gas traded in Louisiana (United States) will start in 2025 and is expected to cover around 3% of South Korea's annual gas consumption.

Kogas owns and operates 5 LNG import terminals in South Korea with a total capacity of 116 Mt/year (156 bcm/year). South Korea imported 61.5 Mt of LNG in 2021 (+15% compared to 2020).

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Tags: KOREA, LNG, GAS, USA