SEOUL, Sept. 27 (Korea Bizwire) — With U.S. President Donald Trump continuing to push to implement policies to export liquefied natural gas (LNG), South Korea was found to be the largest importer of American LNG this year. According to a recent report released by the U.S. Energy Information Administration (EIA), the total amount of LNG [...]
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 [...]
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 [...]
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 [...]
SEOUL, June 1 (Korea Bizwire) – The gap in the cost of electricity generated by coal-fired power plants and LNG power plants is closer than ever, the Korea Power Exchange (KPX) said. According to data released by the KPX yesterday, the unit fuel cost of coal powered electricity was 50.22 won (US$0.045), while the unit [...]
SEOUL, May 23 (Korea Bizwire) — Samsung Heavy Industries Co., a major South Korea shipyard, said Monday that it has clinched a US$100 million deal to build two LNG carriers. Under the deal with South Korean shipper Korea Line Corp., Samsung Heavy will build the ships by December 2019, the company said. The ships, which [...]
JEJU, South Korea, April 28 (Korea Bizwire) – A ceremony was held here Thursday for the construction of liquefied natural gas (LNG) storage facilities and distribution pipelines that aim to provide the southern resort island with a cleaner source of power by mid-2019. The work involves building two storage tanks and pipelines capable of distributing 120 tons of LNG per hour on 74,786 square meters of reclaimed [...]
SEOUL, March 2 (Korea Bizwire) – An expected rise in demand for liquefied natural gas (LNG) is likely to boost demand for LNG carriers, which in turn will help South Korean shipbuilders clinch more LNG ships and related facilities, industry sources said Thursday. Earlier, Royal Dutch Shell, a global oil and gas firm, has said [...]
SEOUL, Nov. 21 (Korea Bizwire) – The increase of single-person households in Korea has brought about another change in household consumption – the declining use of natural gas (liquefied natural gas). According to the Korea City Gas Association and other industry sources, although the number of households in Korea increased from 10.95 million in 2005 [...]
SEOUL, Nov. 16 (Korea Bizwire) – South Korea said Wednesday that it will push to build more ships powered by liquid natural gas (LNG) and develop the relevant technologies in an effort to go green amid looming strict emission rules. The move came a month after the International Maritime Organization adopted a landmark decision to [...]