South Korea Accelerates LNG Purchases to Avoid Winter Shortage
- Nation seeking to purchase additional cargoes to ensure supply
- Inventories have been depleted as heat boosted summer demand
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South Korea is looking to buy more liquefied natural gas to replenish stockpiles before winter.
The world’s third-biggest importer of the chilled fuel is seeking additional cargoes to meet forecasts for increased domestic demand and is targeting to lift inventories to about 90% full by November, from about 34% currently, the Energy Ministry said Monday. That comes after heat waves in the summer and “high” uncertainties internationally from the Russia-Ukraine conflict, the ministry said.