The government has decided to supply Europe with liquefied natural gas(LNG) from its reserves as the region faces a shortage in the natural gas as a consequence of Russia’s invasion of Ukraine.
The Ministry of Trade, Industry and Energy said on Wednesday that the government can afford to provide such assistance now that winter is over. The ministry said it will provide the natural gas to Europe in a quantity that does not affect the nation’s LNG supply and demand as well as market prices.
However, the ministry stopped short of elaborating on when and how much LNG will be provided, stating divulging such details may affect its other LNG contracts.
An earlier report by Reuters cited a source familiar with the matter as saying that South Korea plans to divert certain gas supplies to Europe by this summer following requests from the U.S. or Europe.
Source: KBS World Radio