Export-Import Bank Holds Meeting to Promote Overseas LNG Market Entry

3rd 'Energy Transition Era, Increasing Role of Natural Gas and Strengthening Financial Support: Meeting with Our Companies'
Exchanging Various Opinions on Strengthening Competitiveness of the Natural Gas Industry Amid Market Changes
President Bang: "We Will Support 2.5 Trillion KRW for Natural Gas and Resource Development Projects"

On the 3rd, the Export-Import Bank held a meeting titled "In the Era of Energy Transition, Enhancing the Role of Natural Gas and Strengthening Financial Support" at the Bankers Hall in Myeongdong, Seoul, inviting executives from leading domestic energy companies and the Overseas Resources Development Association. From left to right in the photo: Professor Choi Bong-seok of Daegu University, Yang Hwan-jun, Head of Project Finance Division at the Export-Import Bank, Ahn Sang-won, Vice Chairman of the Resources Development Association, Jung Hae-seong, Executive Director of POSCO Energy, Chae Hee-bong, President of Korea Gas Corporation, Visit Byung-kyu, President of the Export-Import Bank, Heo Yong-soo, President of GS Energy, Jung In-seop, President of Hanwha Energy, Lee Heung-beom, Executive Director of POSCO International, Sung Dong-won, Senior Researcher at the Overseas Economic Research Institute of the Export-Import Bank, and Yang Gu-jeong, Head of the Resource Finance Office at the Export-Import Bank.

[Asia Economy Reporter Kangwook Cho] The Export-Import Bank of Korea announced on the 3rd that it held a "Meeting with Korean Companies to Enhance the Role of Natural Gas and Strengthen Financial Support in the Era of Energy Transition" at the Bankers Hall in Myeongdong, Seoul.

The meeting was organized to share the restructuring of the natural gas market and government policy directions, and to strengthen the network between the Export-Import Bank and resource development companies. Attendees included executives from leading domestic energy companies engaged in natural gas businesses such as Korea Gas Corporation, POSCO International, POSCO Energy, Hanwha Energy, GS Energy, as well as the Overseas Resource Development Association.

At the meeting, Seong Dong-won, Senior Researcher at the Export-Import Bank’s Overseas Economic Research Institute, and Professor Choi Bong-seok of Daegu University gave presentations on the topics "Global LNG Industry Trends and Outlook" and "Government Policy Directions and Measures to Strengthen LNG Industry Competitiveness," respectively.

Senior Researcher Seong stated, "The previously rigid global LNG market structure is gradually becoming more flexible due to increased supply of U.S. LNG and the expansion of emerging LNG markets in Asia," adding, "It is necessary to actively utilize these structural changes as an opportunity to strengthen the competitiveness of the domestic LNG industry."

Professor Choi also said, "The Asian LNG market is experiencing increased demand uncertainty due to the rise of emerging LNG importing countries, so efforts are needed to flexibilize LNG import contract conditions and to ease the rigidity of the domestic LNG market," further emphasizing, "Domestic companies should enhance their market position by entering upstream resource development projects, and domestic EPC companies need to continuously create opportunities to develop core technological capabilities for LNG plants."

The participants exchanged various opinions regarding structural changes in the global natural gas market due to increased production of unconventional energy resources such as shale gas, as well as the current status of the Korean government’s eco-friendly energy mix policy.

In response, Visit Kyoo, President of the Export-Import Bank, stated, "In line with the changing natural gas market and our government’s energy policy goals, we will improve the bank’s financial support review procedures and revise internal regulations to enable our companies to secure energy sources stably and economically. This year, we plan to support 2.5 trillion KRW in the resource development sector, including natural gas projects."

Meanwhile, the Export-Import Bank plans to further strengthen its network with domestic resource development companies through this meeting and will do its utmost to provide the necessary financial supply for companies’ overseas resource development.

This content was produced with the assistance of AI translation services.