LNG

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.

Engie, the France-based European utility company, reported an annual profit of €3.7 billion ($4.2Bln) compared with a loss of €1.5Bln in 2020 as the natural gas and power network businesses improved and nuclear turned a profit while renewables were disappointing given the amount of investment and promotion.