Repsol to Supply LNG to South Korea

Repsol has signed an agreement with South Korea’s state-owned Korea Gas Corporation to supply liquefied natural gas (LNG) to the country.

Under the 15-month agreement, Repsol will ship 1.9 billion cubic metres of gas equivalent from the Peru LNG terminal to South Korea.

The Peru LNG plant can process 620 million cubic feet of gas per day and has a nominal capacity of 4.4 million tonnes per year.

The natural gas supply comes from the Camisea gas field and is fed through a 408km gas pipeline, which is part of the Peru LNG project.

In 2010, Repsol shipped nine billion cubic metres of gas equivalent. When operations begin at Peru LNG, the company expects to increase volumes by at least 50% in 2011.