South Korean January LNG Imports Down

South Korean LNG imports in January declined by 3.4% to 4.14mn metric tons, data released by country’s customs department showed last week.

The average price paid was $8.17/mn Btu compared with $7.95/mn Btu.

Qatar was the largest supplier with 1.63mn mt, followed by US with 0.52mn mt and Australia in third place with 0.44mn mt. Other major suppliers were Oman, Malaysia and Russia.

South Korea, the world’s second largest LNG importer until 2016, was overtaken by China last year. Chinese LNG imports in 2017 were 38.13mn mt, up over 46%, making it the new number two importer ahead of South Korea, but still lagging Japan.