SEOUL: Seoul may see increased volatility in liquefied natural gas (LNG) prices after Qatar reportedly declared force majeure on its long-term LNG supply contract with South Korea, but the impact on the supply will likely be limited, according to officials.
“We have already excluded (LNG) shipments from Qatar from our calculation for this year’s LNG supplies,” Yang Ghi-wuk, deputy minister for trade, industry and resource security, said in a daily briefing on resources supplies amid the Mid-East crisis, stressing that the country has sufficient LNG supplies this year.
Yang added the government has been working to secure gas supplies through alternative routes as Qatar’s announcement had been expected. — The Korea Herald/ANN
