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Biz News Korea(Eng)
Korea’s energy imports from the U.S. more than double this year
- Collected
- 2017.12.20
- Distributed
- 2017.12.22
- Source
- Go Direct
According to the Korea International Trade Association on Wednesday, Korea imported $4.09 billion in fuel from the U.S. from January to November this year, up whopping 148.2 percent from the same period last year.
Liquid petroleum gas (LPG) took up the lion’s share of $1.71 billion, up 57.9 percent. U.S. gasoline took up 64.5 percent of LPG imports versus 35.5 percent share of imports from the Middle East worth $637 million.
Coal imports from the U.S. soared 187.0 percent to $748 million from a year ago.
Korea began to import crude and natural gas from the U.S. in mass scale from the final quarter of 2016.
Liquefied natural gas (LNG) rarely imported from the U.S. reached $673 million this year, while crude imports soared 779 percent on year to $606 million. In the third quarter alone, Korea brought in 2.3 million barrels of crude oil from the U.S.
In proportion to the surge in U.S. fuel, imports from the country’s traditional energy sources in the Middle East fell sharply. Middle East crude dominance slipped to 82.6 percent in the third quarter from 88.5 percent a year ago.
By Woo Je-yoon and Cho Jeehyun
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]