Korea Gas Set to Get LNG Spot Cargo From Belgium at Pyeongtaek

Korea Gas Corp., the world’s largest commercial buyer of liquefied natural gas, is set to receive a spot cargo from Belgium tomorrow, ship-tracking data show.

The Cubal, with a capacity of about 155,000 cubic meters, is heading to the Pyeongtaek terminal on South Korea’s west coast, according to transmissions captured by IHS Fairplay on Bloomberg.

The vessel sailed from Belgium’s LNG terminal in Zeebrugge, where it loaded the supercooled gas and departed Dec. 7, the data show. The facility is used by traders to store and export cargoes from Belgium, which doesn’t produce its own LNG.

South Korea was the world’s largest buyer in 2012 after Japan with imports of 36.77 million metric tons, according to the industry-funded International Group of Liquefied Natural Gas Importers. Kogas, as the state-owned company is known, is seeking three spot cargoes to be delivered by March, a company official said Dec. 11. He asked not to be identified because he isn’t authorized to speak to the media.

Asian LNG importers typically purchase more spot shipments from December to March to meet peak heating and power demand during winter in the northern hemisphere.

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