South Korea freezes power prices for third quarter even as import prices for fuels like LNG rise from annual lows
South Korea, the third-largest Asian liquefied natural gas importer, has decided to freeze electricity prices even as liquefied natural gas costs for gas-fired power generation have begun to increase and to overtake European LNG cargo values.
French LNG storage firm GTT reports revenue and profit plunge but says market dynamics are very positive
French liquefied natural gas storage technology firm Gaztranzport and Technigaz (GTT) reported a more than 20 percent drop in revenues in 2021 and net income was down over 32 percent as contracts for 27 newbuilds and a substantial order book failed to boost the bottom line because of timings.
South Korea LNG loan
June 1 (LNGJ) - The Korea Development Bank said it lent 480 billion Korean won ($388M) along with several other banks to the South Korean shipyard, Hyundai Heavy Industries, as part of its pro-environment “green loans” programme. The other banks involved included UK-based HSBC and ICBC, a KDB affiliate.
“Green loans usually are offered to finance eco-friendly projects, such as LNG carriers, renewable energies and high-efficient energies,” said a statement. Hyundai Heavy will use the funds from the loan to develop technologies for LNG carriers.
Korean shipbuilders benefit from LNG carrier orders amid backing for LNG-powered ships
South Korean shipbuilders are maintaining their dominance in the liquefied natural gas carrier construction sector in the face of some competition from yards in China and Japan.
France visit by South Korean President forges LNG fuel tank technology accord for shipping
French LNG storage technology company GTT and Dongsung Finetec, a South Korean thermal insulation maker, have signed an accord for joint venture production during the Paris visit of a trade delegation accompanying South Korean President Moon Jae-In.
