Korea Gas Corp, the world’s biggest buyer of liquefied natural gas, will divert 400,000 to 500,000 metric tons of the fuel to earthquake-hit Japan after a request by Japanese utilities.
The state-run South Korean utility will provide the LNG starting from the end of March, the nation’s energy ministry said in an e-mailed statement tover the weekend.
Japan may need LNG, on term contract and for immediate delivery, totaling as much as 1 billion cubic feet a day, or about 7.7 million metric tons a year, to burn in generators, JPMorgan Chase & Co. said in a March 14 report.
The state-run South Korean utility will provide the LNG starting from the end of March, the nation’s energy ministry said in an e-mailed statement tover the weekend.
Japan may need LNG, on term contract and for immediate delivery, totaling as much as 1 billion cubic feet a day, or about 7.7 million metric tons a year, to burn in generators, JPMorgan Chase & Co. said in a March 14 report.