S.Korea seeks to extend LNG contract with Malaysia

SEOUL: South Korea is seeking to extend a long-term liquefied natural gas (LNG) import contract for stable supply with Malaysia as the contract is set to terminate in 2015, the Korean government said in a statement on Friday, Dec 10.

South Korea, the world's No.2 LNG buyer after Japan, imported 25.8 million tonnes of LNG last year. Of the total, Malaysia accounted for 23 percent, third after Qatar and Oman, industry data showed.

Figures were not available to show what proportion of total LNG imports from Malaysia the 2015 contract accounted for.

South Korean Minister of Knowledge Economy Choi Kyung-hwan had also sought Malaysian government cooperation in developing oil fields at a meeting on Friday with his counterpart in Malaysia, the statement added. - Reuters