South Korea Agrees to Share Gas With Europe Amid Energy Crisis, Reports Say
MOSCOW (Sputnik) - South Korea is planning to send part of its liquefied natural gas (LNG) to Europe in an effort to alleviate the energy crisis caused by a reduction in supplies from Russia, South Korean news agency Yonhap reported on Thursday, citing unnamed industry ministry officials.
Russia, hit by international financial sanctions, asked European countries to start paying for its gas in rubles last month. On Wednesday, Russian energy company Gazprom announced the suspension of gas supplies to Poland and Bulgaria as they refused ruble payments. Gazprom also warned that it would limit gas transit to other countries in the event Poland and Bulgaria tap the pipe without authorisation.
South Korea has decided to send gas as it has the capability for such support in spring, one official told Yonhap, adding that the gas will be sent to Europe before summer and the volume of shipment will "not be that much".
Another official said that the decision was made at the request of the United States or European countries. According to the report, the US asked South Korea in February to help Europe out with gas but Seoul turned down the request at the time.
The import price of natural gas for South Korea at the end of March was $1,013 per tonne, up 20.08% from the previous month, while in March 2021 the price was just over $438, according to the report.