South Korea’s Kogas cuts 2015 LNG imports by 13.5% to 31.41 million mt on weaker demand

16 Feb 2016   South Korea

South Korean state-owned Korea Gas Corp.’s imports of LNG fell 13.5% to 31.41 million mt last year, as the country’s LNG demand dipped 10.6%, the company said Monday. It marks the second consecutive year of decline in its LNG imports. Kogas lowered LNG imports to 36.33 million mt in 2014, down 7.6% from 39.33 million mt in 2013 — the first time the company reduced LNG imports since 2009. Kogas, the world’s biggest LNG buyer, imported 34.97 million mt in 2012, 33.97 million mt in 2011 and 31.82 million mt in 2010. The company did not disclose how much it imported in the fourth quarter of last year. But given its imports of 22.91 million mt over January-September, the company imported 8.5 million mt in Q4, down 12.6% from imports of 9.72 million in the year-ago period. Article continues below… LNG Daily is essential reading as LNG supply dynamics […]

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