A Review of the Nigerian Energy Industry

South Korea’s January LNG imports decline YoY

*LNG supply vessel.

19 February 2018, News Wires – Liquefied natural gas (LNG) imports into South Korea dropped 3.4 percent in January year-on-year, according to the customs data.

The country received 4.14 million tonnes of LNG in January, as compared to 4.29 million tonnes in the corresponding month the year before.

The average price of the LNG imported by South Korea last month was at $8.70 per MMBtu as compared to $7.95 per MMBtu in January 2017.

Qatar, the world’s largest LNG exporter, Qatar, remained the dominant source of South Korean imports with 1.63 million mt of the chilled fuel imported from Qatar in January. These volumes dropped by 0.23 million tonnes as compared to last year.

LNG deliveries from the US rose more than five times on year to 0.52 million tonnes, while imports from Australia dropped by 0.38 million tonnes to 0.42 million tonnes.

Oman supplied 0.42 million tonnes of the fuel during the month under review, down 0.14 million tonnes on the year, as deliveries from Malaysia almost doubled to 0.41 million tonnes.

The rest of South Korea’s LNG deliveries in January were sourced from Russia, Indonesia, Brunei, Nigeria, Equatorial Guinea and Peru.

 

LNG World News Staff

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