South Korean LNG imports slip

South Korean imports of liquefied natural gas (LNG) slipped in December 2020, when compared to the corresponding month a year prior.

Data from the South Korean Customs Service shows that LNG imports during December 2020 reached 4.27 million tons of the chilled fuel.

This is a 10.5 per cent drop compared to the corresponding month in 2019, when the country imported a total of 4.77 million tons of LNG.

However, compared to November 2020 volumes, when South Korea imported 3.58 million tons of LNG, this is a 19.3 per cent jump.

Qatar exported a total of 930,934 metric tons of LNG during December 2020, being the leading source of South Korean imports. The United States emerged as the second-largest supplier to South Korea with 857,155 metric tons of LNG delivered in December, followed by Malaysia with 747,306 metric tons.

Deliveries of Australian LNG to South Korea slipped from 1.25 million tons in December 2019 to 551,090 metric tons of LNG during the month under review.

The remaining volumes have been imported from Angola, Indonesia, Nigeria, Oman, Papua New Guinea, Peru, Russia, Trinidad & Tobago and the United Arab Emirates.

South Korea’s 2020 LNG imports reached 35.08 million tons of LNG slipping down from 40.75 million tons in 2019.

Qatar remained the top source in 2020 delivering a total of 9.08 million tons of LNG to South Korea. Australia followed with 7.97 million tons, while the United States delivered 5.77 million tons of LNG.