South Korean imports plunge in February

High LNG storage inventory led South Korea into a year-on-year plunge in imports.

The world’s second largest LNG market brought in 3.11 million tonnes last month, a 9.6% drop on the 3.44 million tonnes imported a year earlier, according to Bloomberg News.

South Korea paid about $527 per tonne compared to $467 per tonne in February 2010.

More than 734,000 tonnes of the imports were from the spot market, thanks to purchases from Trinidad and Tobago, Peru and Nigeria.