Korea Electric Power and Korea Gas still carrying high debt levels though falling LNG prices brings some relief
The largest South Korean power and natural gas companies with liquefied natural gas commitments including imports and purchases have seen their current debts staying at high levels because of last year’s higher commodity prices and increasing interest rates.
South Koreans to cut LNG use this winter and use more coal because of 40 percent saving in generation costs
Korea Electric Power Corp., the state-run utility, said it planned to import more coal this winter because of the price differential between coal and liquefied national gas shipments in terms of generation compared with cost where there was a 40 percent saving.
Korean automaker Hyundai Motor cancels power plant fired by regasified LNG to run factory and opts for solar
Hyundai Motor Co., the leading South Korean car maker, has formally ended plans to build a gas-fired power plant at its Ulsan facility that would have used regasified LNG imports.
French major TotalEnergies signs long-term LNG supply agreement with Korean utility Hanwha Energy
TotalEnergies of France has signed a sale and purchase agreement (SPA) to supply 600,000 per annum of LNG over 15 years to South Korean company Hanwha Energy Corp., a utility company with gas-fired power and renewable assets
South Korea lines up more US LNG volumes with deal worth $9.6Bln for Texas shipments
Korea Gas Corp., the South Korean utility and owner of four LNG import terminals and worldwide volumes, said it signed an agreement to buy US LNG shipments from UK energy major BP.
