U.S. now supplying LNG to South Korea
The Korea Gas Corp. commenced a 20-year sales and purchase agreement with Cheniere Energy Inc., which operators the only facility in the United States with the permits necessary to export super-cooled LNG.
"This is just the beginning of a long and productive relationship that will be beneficial to both companies and both countries, and we hope to continue to grow this relationship between KOGAS and Cheniere," President and CEO Jack Fusco said.
Cheniere last year became the first company in the United States with the permits necessary to ship LNG overseas.
A special permit is needed to send natural gas to countries without a U.S. free trade agreement, a scenario that could present roadblocks for future LNG exports from the United States given President Donald Trump's protectionist trade policies.
The United States doesn't have a free-trade deal with Korea. Trump left the 12-nation Trans-Pacific Partnership trade agreement, brokered by his predecessor, during his first week in office. ■