Deputy Minister of Industry 2 Visits Incheon LNG Terminal... "Considering Further Expansion of LPG Co-firing"

Park Il-jun, Vice Minister of Industry, Visits Incheon LNG Terminal

Typhoon 'Hinnamnor' Preparedness: On-site Inspection at Ulsan Thermal Power Plant
(Seoul=Yonhap News) On the 3rd, Park Il-jun, the 2nd Vice Minister of the Ministry of Trade, Industry and Energy, made an urgent visit to the Ulsan Thermal Power Plant operated by Korea East-West Power in preparation for the approaching Typhoon 'Hinnamnor'. He inspected the typhoon preparedness measures. September 3, 2022. [Provided by the Ministry of Trade, Industry and Energy. Redistribution and DB use prohibited]
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[Asia Economy Sejong=Reporter Lee Jun-hyung] Park Il-jun, Vice Minister of the Ministry of Trade, Industry and Energy, visited the Incheon Liquefied Natural Gas (LNG) terminal to inspect the current status of natural gas supply and demand.

The Ministry of Trade, Industry and Energy announced that Vice Minister Park visited the Korea Gas Corporation's Incheon LNG terminal on the 8th. Operating since 1996, the Incheon LNG terminal is the world's largest LNG terminal, responsible for about 35% of the domestic natural gas supply. On this day, Vice Minister Park inspected the operation and safety management status of key production and supply facilities such as storage tanks and unloading facilities at the Incheon LNG terminal.

Vice Minister Park's visit to the Incheon LNG terminal comes amid growing uncertainties in natural gas supply and demand. International natural gas prices have surged following Russia's recent announcement to halt the operation of the Nord Stream pipeline supplying gas to Europe. In response, the Ministry held a 'Natural Gas Supply and Demand Status Inspection Meeting' on the 7th with the Korea Gas Corporation and private LNG direct importers.

Vice Minister Park instructed to actively consider expanding the co-firing of liquefied petroleum gas (LPG) to reduce LNG consumption. He stated, "We need to explore additional expansion of LPG co-firing currently implemented by the Korea Gas Corporation," adding, "(However) please conduct thorough prior analysis to ensure that the expansion of LPG co-firing does not cause issues to power plant turbines and some combustion devices, and implement it gradually."

Vice Minister Park also emphasized the importance of monitoring the supply and demand status. He said, "In preparation for the international natural gas supply crisis due to the prolonged Ukraine situation, monitoring must be conducted more thoroughly," and requested, "Please promptly activate the emergency response system if necessary." Furthermore, he added, "Equipment inspections must be strengthened to prevent any disruptions in natural gas production and supply caused by disasters such as typhoons," and urged, "Field managers should fully familiarize themselves with the crisis response manual to be thoroughly prepared to respond swiftly and in an organized manner to crisis situations."

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