Wedoany.com Report-Aug. 26, Korea Gas Corporation (Kogas) announced on August 26, 2025, that it will import an additional 3.3 million tons of liquefied natural gas (LNG) annually from the United States for ten years, starting in 2028. The agreement, finalized during a business roundtable in Washington on Monday, August 25, 2025, involves global energy suppliers, including Trafigura, and strengthens energy cooperation between Korea and the U.S.

A Hanwha Ocean liquefied natural gas carrier

The LNG will be sourced from projects operated by Cheniere in Texas and other regions, as confirmed by company representatives. The deal aligns with Korea’s commitment last month to purchase $100 billion worth of U.S. energy products over the next four years, supporting stable trade relations and fostering collaboration in key industries.

Kogas initiated a bidding process last year to secure energy imports beyond 2028, resulting in this long-term contract. The agreement aims to diversify Korea’s LNG import sources, reducing reliance on Middle Eastern suppliers. In 2024, Kogas’s contract for 4.92 million tons of annual LNG imports from Qatar expired, and another contract for 2.1 million tons annually will conclude in 2026. The new deal with U.S. suppliers enhances supply stability and price competitiveness for Korea’s energy market.

Choi Yeon-hye, CEO of Kogas, stated: “With the new contract, our multifaceted efforts to diversify import sources for LNG supply stability and enhance the price competitiveness of natural gas have borne fruit.” The agreement supports Kogas’s strategy to ensure a reliable and cost-effective energy supply for domestic consumption.

The contract reflects Korea’s efforts to balance its energy import portfolio while meeting growing domestic demand for natural gas. By securing LNG from U.S. projects, Kogas strengthens its supply chain resilience and supports the country’s energy needs. The deal also contributes to economic cooperation between Korea and the U.S., fostering mutual benefits through expanded trade in the energy sector.

This agreement positions Kogas to meet future energy demands efficiently, leveraging partnerships with global suppliers like Trafigura and Cheniere. The focus on diversifying import sources ensures a stable and sustainable energy supply for Korea, supporting its industrial and economic growth while addressing the evolving needs of its energy market.