Ministry of Trade, Industry and Energy Reviews Preparations for Summer Natural Gas Supply and Demand

[Sejong=Asia Economy Reporter Kwon Haeyoung] The Ministry of Trade, Industry and Energy held a 'Natural Gas Supply and Demand Status Inspection Meeting' on the 24th with related organizations such as Korea Gas Corporation, Korea Power Exchange, and Korea Gas Association to ensure stable natural gas supply and demand management during the summer season.

As hotter-than-average weather is expected this summer, the meeting proactively inspected the natural gas supply and demand status and the operation conditions of major production and supply facilities.

The Korea Power Exchange emphasized that electricity demand this summer is expected to be higher than last year, and that the smooth operation of liquefied natural gas (LNG) power generators is crucial for stable electricity supply and demand.

Korea Gas Corporation is securing supply volumes stably in advance compared to the projected natural gas demand for the summer season. They announced that through prior inspections of major production and supply facilities and system operations, as well as focused management of LNG power plant supply facilities, they will supply natural gas stably even during the summer when electricity consumption is high.

Yoo Beopmin, Director of Resource Industry Policy at the Ministry of Trade, Industry and Energy, stated, "Although natural gas demand is relatively lower in summer compared to winter when heating demand is concentrated, we will thoroughly prepare to prevent any disruptions in natural gas supply by strengthening supply and demand management, including continuous inspections of demand fluctuation factors with related organizations such as Korea Gas Corporation and Korea Power Exchange."