LNG

Sept 30 (LNG) - South Korea said it would raise domestic natural gas prices for civilian users in October because of soaring LNG import prices. The Ministry of Trade, Industry and Energy said natural gas prices for households would increase by 15.9 percent and the price rises for commercial users would range from 16.4 percent and 17.4 percent.

   Korea Electric Power Corp. (KEPCO) said it would also raise fourth-quarter electricity rates for households and industrial users because of high costs and the company’s increasing losses. KEPCO said it had decided to raise the adjusted unit fuel cost by 2.5 Korean won (US$0.002) per kilowatt hour for the October-December period. The increase is in addition to a 4.9-won rise the government has already decided to apply for electricity from October.

Doosan Heavy Industries and Construction, South Korea's leading power plant builder, is on the point of reviving its gas turbines business to capture market share in the domestic market and eventually in Asia in the growing LNG-for-power sector.