South Korea’s imports soar by 28% in February

South Korea’s LNG imports increased by 28% year on year in February, to a four-year high of 4.6 mt, as the country prepared to take 2.3 GW of coal-fired capacity offline. Five coal-fired power plants will be shuttered until June to reduce pollution. However, cold weather has raised power and heating requirements, and LNG demand has increased significantly.

South Korea received LNG from 14 countries in February. The volumes included a number of spot cargoes from...