South Korea's KOMIPO cancels LNG import terminal plan due to high costs and falling demand.
South Korea's Korea Midland Power (KOMIPO) cancels plan for an LNG import terminal on western coast due to high costs and falling demand. KOMIPO's annual LNG demand to reduce by 67% to 384,000 tonnes, and construction costs were estimated to rise by 22% to 894.6 billion won. South Korea, the third-largest LNG importer, saw stable or declining LNG imports as nuclear power usage displaces gas.
July 22, 2024
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