EU may de-route import gas to Europe from S. Korea and Japan

President of the Eurond Japan as the ongoing confrontation between Russia and Western countries over Ukraine may lead to a severe crunch of natural gas from Russia, 40 percent of European demand. Reportedly, the South Korean government hinted that it is impossible to exchange natural gas for some time due to high domestic heating needs during the cold although having natural gas assistance currently under review.

According to the Sputnik new agency, President von der Leyen said at the Munich Security Conference in southern Germany on Saturday (local time), “For the time being we would be able to replace the Russian gas with LNG deliveries that we get from our friends all over the world,” adding, “We are supported actually also by buyers, like Japan or South Korea, who are willing to swap contract with us so that ships with LNG gas or de-routed to the European Union.” Previously, it was reported by Bloomberg that the EU discussed long-term swaps with Asian nations on natural gas supply while Washington met up with natural gas importers such as South Korea and Japan to sound out on their idea.

“We seriously review a decision to supply natural gas to Europe,“ said a source from the South Korean Foreign Affairs Ministry on Sunday. However, an official at the Ministry of Trade, Industry and Energy said, “Although we are in discussion with Washington and others, we can’t afford it as of now as there is already a high demand for gas across the nation this winter,” adding that the decision will stay up in the air until gas demand decreases domestically after the peak season ends.


Teuk-Gyo Koo kootg@donga.com