South Korea Must Limit U.S. Shale-Gas Imports to 20% of Total, Kogas Says

24 Mar 2014   South Korea

South Korea must limit the share of U.S. shale gas to one-fifth of its total gas imports to avoid excessive dependence on a single supply source, a senior executive at state-run Korea Gas Corp. said Monday. “In my personal opinion, around 20% of shale gas [liquefied natural gas] is desirable. Too much exposure to shale gas LNG is not too desirable,” said Kwon Young-Sik, chief operating officer at Kogas’s resources division. Asian importers of LNG such as South Korea are mulling a number of new supply sources as gas producers in Australia, the U.S., Canada, Russia and East Africa race to get new projects running. South Korea, the world’s second-largest importer of natural gas, imported around 37 million tons of LNG in 2012, according to the International Gas Union. It is positioned to be the first Asian importer of U.S. natural gas, as it has contracted […]

Comments are closed.