Government to provide some supplies to Europe, which is suffering from 'LNG shortage'

The Korean government provides some reserves to Europe, which is experiencing a shortage of liquefied natural gas (LNG) due to Russia's invasion of Ukraine.

The Ministry of Trade, Industry and Energy announced that after the winter season, there is room for LNG supply and demand, so it has decided to provide some at a level that does not affect domestic supply and demand or prices.

Previously, the Korean government received a request for LNG support from the US government in February, but said it was difficult due to the domestic supply and demand situation, but it is analyzed that it has recently changed its position.

The Ministry of Industry did not disclose the specific supply timing or volume, saying that it may affect other LNG contracts.