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S. Korean Shipbuilders Striving to Break GTT Monopoly in LNG Containment Systems

S. Korean Shipbuilders Striving to Break GTT Monopoly in LNG Containment Systems

SEOUL, Jul. 9 (Korea Bizwire) — It’s no secret that South Korean shipbuilders are flying high in the liquefied natural gas (LNG) carrier market, having bagged more than 80 percent of global orders in recent years. But the real winner in the global LNG carrier market is Gaztransport & Technigaz (GTT) S.A., the world’s No. [...]

POSCO to Reorganize LNG Processing Operations to Enhance Efficiency

POSCO to Reorganize LNG Processing Operations to Enhance Efficiency

SEOUL, Apr. 15 (Korea Bizwire) — South Korea’s largest steelmaker POSCO said Monday that it will reorganize its liquefied natural gas (LNG) operations as part of its efforts to enhance its business efficiency. The company said in a regulatory filing that its board of directors last week approved the transfer of its LNG terminal in [...]

S. Korea to Cut Import Surcharge on LNG for Power Generation

S. Korea to Cut Import Surcharge on LNG for Power Generation

SEOUL, Mar. 19 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it will sharply reduce the import surcharge imposed on liquefied natural gas (LNG) in line with the government’s efforts to control fine dust pollution. The Ministry of Trade, Industry and Energy said the new rules will cut the levy on the more environment-friendly [...]

Government Limits Coal Power Plant Operation on Days with Extreme Fine Dust

Government Limits Coal Power Plant Operation on Days with Extreme Fine Dust

SEOUL, Jan. 22 (Korea Bizwire) — The Ministry of Trade, Industry and Energy announced on Monday that it will include additional fine dust reduction measures in the 9th Basic Plan on Electricity Demand and Supply, which is to be established this year. The government plans to expand its policy to limit coal power plant output [...]

S. Korea, Russia Agree to Step Up Energy Cooperation

S. Korea, Russia Agree to Step Up Energy Cooperation

SEOUL, Feb. 21 (Korea Bizwire) — South Korea and Russia have agreed to beef up cooperation in the energy sector on a wide range of areas, including natural gas, electricity and renewable energy development, the Seoul government said Wednesday. Pak Won-ju, South Korean deputy energy minister at the Ministry of Trade, Industry and Energy, held [...]

Outlook for South Korean Shipbuilders Turns Positive as Demand for LNG Carriers Expected to Increase

Outlook for South Korean Shipbuilders Turns Positive as Demand for LNG Carriers Expected to Increase

SEOUL, Oct. 16 (Korea Bizwire) – Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries, the top shipbuilders in the country, are struggling from lack of work caused by falling demand for new vessels. According to recent industry data, however, that could change in the not-too-distant future thanks to a projected rise [...]

More Clean Energy Translates to Bigger Electricity Bills Down the Road

More Clean Energy Translates to Bigger Electricity Bills Down the Road

SEOUL, Sept. 29 (Korea Bizwire) – The current presidential administration’s plans to phase out nuclear reactors and coal power plants will leave an increased electricity bill for future generations.  At a symposium attended by energy experts on September 28, professor Heoh Don of Kwangwoon University presented his research findings, which indicated that the cost per [...]