LNG Weekly – Liquid Natural Gas Export Monitor Jan 23 2019


South Korea LNG Imports reached an all-time high in 2018

South Korea’s LNG imports totaled 44.04 million tons in 2018, up 17.3 percent from the prior year and a new record high, according to the data from industry sources and the Korea International Trade Association (KITA).

Import Sources
Qatar largest LNG import source with 32.4 percent.
Australia was second with 17.9 percent,
U.S. was third with 10.6 percent
Oman was fourth with 9.7 percent.

LNG imports from America more than doubled in 2018 from a year earlier. LNG imports from the U.S. came to 4.66 million tons last year, up a huge 138 percent from the previous year.

The U.S. Energy Information Agency said South Korea brought in 4.54 million tons of LNG from America in the first 10 months of last year, accounting for 23.6 percent of its exports at 19.24 million tons.

South Korea became the largest LNG importer from the U.S. in 2018, outstripping Mexico. In 2017, South Korea was the second-largest LNG importer from America, trailing Mexico.

Industry sources said a surge in imports from the U.S. will likely diversify South Korea’s import sources and help stabilize LNG prices in Asia’s No. 4 economy.

Source: Yonyap News