Liquefied natural gas imports down 7.7 percent on fuel price

Home > Business > Industry

print dictionary print

Liquefied natural gas imports down 7.7 percent on fuel price

Korean liquefied natural gas imports fell 7.7 percent in May from a year earlier as the average price paid for the fuel climbed 31 percent.

The north Asian nation, the world’s second-biggest buyer of LNG, purchased about 2.2 million metric tons of the power-station fuel last month, compared with almost 2.4 million tons a year earlier. Imports totaled 2.7 million tons in April.

Korea, which imports almost all its gas, paid $1.82 billion, or $826.30 a ton, for May purchases, compared with $1.51 billion, or $631.10 a ton, a year earlier, the data showed.

The nation buys most of the fuel under multiyear contracts from countries including Qatar, Indonesia and Oman. Last month’s purchases included 108,586 tons bought on the spot market for $682.70 a ton from Nigeria, today’s data showed.

State-run Korea Gas Corp., the world’s biggest LNG buyer, said Thursday that May sales rose 13 percent from a year earlier to 2.4 million tons.


More in Industry

SK Telcom merges two security services subsidiaries

KDB requests sit-down with Asiana unions about takeover

Are you Taycan to me?

Facebook hit with $6 million penalty for customer data leak

Spinoff to give LG chairman's uncle his own conglomerate

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now