KOGAS Expects to Import 2.8 mt of LNG Every Year from US Starting 2017

KOGAS will import 2.8 million tons of LNG every year from the United States starting in 2017, Yonhap News Agency on Wednesday quoted the company as saying.

The amount to be imported is equal to 10 percent of what the country needs per annum, the company said, adding that bringing in LNG from North America can reduce the country’s dependence on imports from existing suppliers.

“Diversifying imports not only makes the country less dependent on existing suppliers, but can make it possible to cut prices,” the company said, Yonhap reported.

In 2012, KOGAS signed a deal with Sabine Pass LNG terminal to import approximately 3.5 million tonnes per annum (mtpa) of LNG upon the commencement of train three operations.

The South Korean utility is world biggest importer of LNG.