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South Korea achieves record high for LNG imports in 2018

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LNG Industry,

Reuters is reporting that South Korea’s imports of LNG are on course to reach 42 million t in 2018; a record high for the country.

As the world’s third largest LNG importer, South Korea usually imports between 33 and 37 million tpy. For 2018, the country total imports are expected to reach approximately 42.8 million, an increase from the 37.6 million tpy imported in 2017.

This estimated figure tops the last high of 40 million tpy which was recorded in 2013, after a series of nuclear reactor shutdowns prompted by safety concerns regarding faulty parts. The reactivation of several nuclear reactors could play a key role in reducing the quantity LNG imports next year.

The main demand for LNG in South Korea comes from its power generation sector. LNG is also a primary energy source for heating and cooking.

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