South Korea’s LNG imports drop 34.5%

In November, South Korea’s imports of LNG have fallen 34.5% YoY as the country completed building winter inventories, said customs data. Some 2.32Mt were bought in November, down from 3.54Mt in November 2010.

Current inventories stand reportedly at over 90% of the national storage capacity. “November was warmer than usual, leading to less gas consumption,” a government source told Reuters.

South Korea is the world’s second-largest LNG buyer and mainly imports natural gas from Indonesia, Qatar, Malaysia, Russia and Oman, which it stores as LNG.