LNG

Dec 5 - South Korean industry will pay more from December 5for its gas-fired power from LNG imports, the Economy Ministry said. It is the second electricity prices rise in 2011. Power prices will rise by an average 4.5 percent after an average 4.9 percent increase in August. Residential electricity prices will not increase after a 2 percent rise in August. The world's second-largest importer of LNG has been seeking ways to reduce the costs of its cargoes over the longer term.