• Thursday, February 22, 2024
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Korea Gas to get spot LNG Cargo from Nigeria

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Korea Gas Corp., which buys more liquefied natural gas than any company in the world, is set to ge

Grace Cosmos, with about 147,000 cubic meters of capacity, is sailing to Tongyeong on South Korea’s southeast coast and will dock on January 5
Grace Cosmos, with about 147,000 cubic meters of capacity, is sailing to Tongyeong on South Korea’s southeast coast and will dock on January 5

t a spot cargo from Nigeria at its Tongyeong terminal, ship-tracking data show.

The Grace Cosmos, with about 147,000 cubic meters of capacity, is sailing to Tongyeong on South Korea’s southeast coast and will dock on January 5, according to transmissions captured by IHS Fairplay on Bloomberg. The vessel loaded the gas at Nigeria LNG Ltd.’s Bonny Island terminal and departed December 7.

Asian LNG importers typically purchase more spot shipments from December to March to meet peak heating and power demand during winter in the

northern hemisphere. Kogas, as the state-owned company is known, is seeking three spot cargoes to be delivered by March, a company official, who asked not to be identified because he isn’t authorized to speak to the media, said on December 11.

South Korea has no long-term LNG supply contracts with Nigeria, data compiled by Bloomberg show. It was the world’s largest buyer in 2012 after Japan with imports of 36.77 million metric tons, according to data from the industry-funded International Group of Liquefied Natural Gas Importers.

Bloomberg