The South Korean government has developed a contingency plan for a complete halt in the import of liquefied natural gas from Qatar.
Officials from South Korea's Ministry of Trade, Industry, and Energy stated on the 20th that amid concerns over interruptions in domestic natural gas supply due to the attack on Qatar's liquefied natural gas facilities, the South Korean government has devised an emergency plan to address a complete halt in importing liquefied natural gas from Qatar. According to the plan, there will be no issues with domestic natural gas supply in South Korea. Qatar Energy Company announced on the 19th that due to Iran launching missiles at the world's largest liquefied natural gas production facility in Qatar's Ras Laffan Industrial City, 17% of its liquefied natural gas export capacity was damaged, with an estimated repair time of 3 to 5 years. In response, officials from South Korea's Ministry of Trade, Industry, and Energy stated that following the military strikes by the US and Israel on Iran, the South Korean government immediately developed an emergency plan in the event of a complete halt in the supply of liquefied natural gas from Qatar, and has already secured enough reserves to last until the end of this year. However, with the prolongation of the conflict in the Middle East, a significant increase in international liquefied natural gas prices is almost inevitable. The South Korean government is currently formulating relevant strategies to mitigate the impact of rising natural gas prices on the domestic economy.
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