South Korea Scheduled to Receive LNG Spot Cargo From West Africa
South Korea, the world’s second-largest buyer of liquefied natural gas, is scheduled to receive a spot cargo from West Africa, ship-tracking data show.
The LNG Adamawa, with a capacity of about 143,000 cubic meters, is set to arrive tomorrow, according to transmissions captured by IHS Fairplay on Bloomberg. The data don’t show where the cargo was loaded or its destination port.
Asian LNG buyers typically import more spot cargoes from June to August as power consumption increases during the warmest months. South Korea doesn’t have long-term contracts with West Africa’s LNG producers such as Nigeria, Equatorial Guinea and Angola, according to data compiled by Bloomberg.
South Korea urged consumers to conserve power as some of the nuclear reactors that supplied 30 percent of the nation’s generating capacity last year were shut for safety checks. The country issued a preliminary alert for a possible electricity shortage Aug. 12., Korea Power Exchange said on its website.
Record temperatures across North Asia have killed dozens of people and pushed electricity grids to near breaking point, forcing governments to introduce emergency measures as more of the same heat is forecast.
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