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More Russian LNG for  S. Korea
More Russian LNG for  S. Korea

More Russian LNG for S. Korea

More Russian LNG for S. Korea

South Korea plans to increase the supplies of liquefied natural gas from Russia, the Ministry for the Development of the Russian Far East said, citing the head of South Korea's Northern Economic Cooperation Committee, Song Young-gil. "We have agreed to develop cooperation not only in the field of aquaculture but also in other products and services; in particular, Korea plans to increase LNG supplies from Russia," Song said during a video conference with Minister for the Far East Development Alexander Galushka, Sputnik reported. During the video conference, the two sides discussed joint projects in Russia's Far Eastern Federal District. South Korea, the world’s second largest buyer of LNG, is expected to boost imports of the chilled fuel for power generation as part of a plan to reduce reliance on coal and nuclear plants. The country aims to lift its power production capacity by up to a tenth by 2030, mostly using LNG and renewable energy.

 

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