2nd Largest Importer of US LNG
It has been found that South Korea was the second largest importer of US liquefied natural gas (LNG) in the world last year.
The US Energy Information Administration (EIA) said on January 21 that Korea imported 88.2 billion cubic feet of LNG (about 1.99 million tons) from the United States last year (January-October).
Last year, the country that imported the largest amount of US LNG was Mexico with 126 billion cubic feet. Korea came in second with its import volume skyrocketing 773% year on year last year. The surge in imports is attributable to the fact that KOGAS began importing American shale gas in earnest in July of last year. KOGAS signed a long-term contract to import 2.8 million tons per year from Sabine Pass in 2012.
Korea's LNG imports from the US are expected to grow further in the future.