Development of LNG in South Korea in recent years

American energy cheniere energy company and South Korea liquefied natural gas (LNG) imported giant Korea Gas Corporation (kogas) signed an agreement, under the agreement, cheniere energy companies in the United States in the 20 years annually to South Korea's kogas sold 3.5 million tons of LNG, bringing the total to 70 million tons.

South Korea KOGAS became the fourth U.S. Cheniere energy company signed a Pass Sabine facility from the United States plans to receive LNG customers.

South Korea's KOGAS, the world's largest LNG import company, will pay the price of $3 per million British thermal units plus the price of the Hub 115%Henry index to pay for the LNG Cheniere energy company in the United States.

The United States Cheniere energy company, said the sale will be in the project 4 LNG production lines in the production of third LNG production lines began. South Korea KOGAS has the right to extend the contract after the expiration of 10 years.

Two, 2012 Korea Gas Co imported LNG forecast

According to the company submitted to the Korean stock exchange documents, in 2012, the Korea Gas Co plans to import 456 thousand tons of liquefied natural gas.

Korea Gas Co is expected in 2012, the company LNG sales will reach 36 million 419 thousand tons; in 2011, its LNG sales reached 33 million 747 thousand tons, an increase of about 2 million 672 thousand tons, an increase of 7.9%.

Three, in 2012, South Korea's four major shipbuilding giant to lead the LNG ship orders

Four big Korean shipbuilding giants, Hyundai, Samsung Heavy Industries, Daewoo shipbuilding and STX in the first quarter of 2012 has nine ships LNG ship's new orders in the bag. The entire 2012 is expected to have more than 40 LNG transport ship signed a contract, which, NigeriaLNG project is for the tender of 6 170000-cbmLNG transport ships, Russia's YamalLNG project also requires 16 170000-cbm ship.

In 2008, the data for the 5, in 2009 to zero, in 2011 soared to 51. Norway ParetoSecurities predicts that by 2020, the world will need about 782 LNG transport ships.

Four, 2012 South Korea plans to invest two LNG project in Australia

Korea Gas Corporation (kogas) said that the Korea Gas Corporation nowadays are very concerned about shale gas assets in the United States, the company is expected to will invest us a liquefied natural gas (LNG) project. The project is expected each year at least to South Korea to provide another 300 million tons of LNG.

In order to obtain more LNG supply and Korea Gas Corporation plans to Australia by the shell company as operator of the prelude of LNG project and Gladstone LNG project to invest 10 billion and $20 billion, respectively. It is reported that each project is expected to provide about 3 million 500 thousand tons of LNG per year to the Korea Gas Co.

Five, South Korea in 2024 LNG import forecast

South Korean liquefied natural gas (LNG) demand is likely to increase by 40% over the next 10 years, as demand for industrial and consumer demand continues to increase in Asia's fourth largest economy. South Korea is, second only to Japan of the 2 largest LNG importer in the world, South Korea's LNG demand in the next 13 years may jumped to 44 million tons, significantly more than the South Korean government's LNG imports will remain at 3400 million tons is expected.