LNG

LNG imports and gas-fired power will continue to be critical parts of the energy profile of Japan with LNG representing the third-largest energy source in total primary imports after oil and coal, according to a report just published by the Paris-based International Energy Agency.

May 14 (LNGJ) - South Korea has eased its dependence on the Middle East and Asia for imports of liquefied natural gas as it increased purchases from the United States and Australia, including contract and spot shipments. South Korea, the world’s third-largest LNG importer after Japan and China, has been widening its LNG portfolio with security of supply a key issue. According to data from the International Energy Agency, LNG exports by the members of the Organization for Economic Cooperation and Development rose 39 percent year-on-year to 100.6 billion cubic metres. US exports rose as the Sabine Pass plant in Louisiana brought more capacity on stream and Korea was a main buyer. Australian shipments rose 27 percent and Korea Gas Corp. received its share of cargoes from the Gladstone plant in Queensland.