IEEFA warns of overbuild of LNG import infrastructure in South Korea ...Middle East

A new report by the Institute for Energy Economics and Financial Analysis (IEEFA) has found that South Korea is rapidly developing liquefied natural gas (LNG) import and storage terminals, presenting a high risk of overinvestment and overcapacity. Illustration; Archive; Courtesy of KOGAS According to IEEFA estimates, the country’s LNG industry is pouring ₩11.3 trillion ($8.7 billion) into an infrastructure build-out that has projects at the construction or planning stage to boost receiving capacity for the fossil fuel. Specifically, overall, incumbents and new entrants in the country’s LNG market aim to complete 11 LNG terminal projects by 2031. “Our analysis demonstrates a growing mismatc

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