• Natural Gas News

    Kogas to Buy US LNG from BP (Update)

Summary

Imports will start in 2025.

by: Shardul Sharma

Posted in:

Natural Gas & LNG News, Americas, Asia/Oceania, Liquified Natural Gas (LNG), Security of Supply, Corporate, Import/Export, News By Country, South Korea

Kogas to Buy US LNG from BP (Update)

(Adds comments from Kogas)

South Korean Kogas September 23 signed an agreement with BP to buy close to 1.6mn metric tons/year of US LNG, South Korean energy ministry said September 24.

The imports will start in 2025 and continue for 15 years. Kogas in a separate statement said the LNG would come from Freeport LNG project and Calcasieu Pass LNG project. Since 2016, Kogas has imported 2.8mn mt/yr of LNG from the Sabine Pass project. With this new long-term contract its LNG imports from the US will increase to 4.4mn mt/yr, Kogas said. 

State-run Kogas is South Korea’s main LNG importer and operates five receiving terminals.  South Korea is the world’s third-biggest LNG importer after Japan and China. It received a record 44mn mt of LNG last year.

Banner image courtesy South Korean ministry of trade, industry and energy