Gas Corporation Operates 'LNG Supply Emergency Response Team' in Preparation for Israel-Palestine Situation

Preparation of Response Measures for Scenarios Including Hormuz Strait Blockade
Commitment to Stable Supply Management and Full-Scale Response

Korea Gas Corporation (KOGAS) announced on the 23rd that, amid growing instability in the international energy market due to the recent Israel-Hamas armed conflict, it is preparing for a natural gas supply crisis centered around the "Liquefied Natural Gas (LNG) Supply Emergency Response Team."

A KOGAS official stated, "KOGAS has segmented the developments in the Middle East, such as the blockade of the Strait of Hormuz, into five stages to establish a response system that can immediately prepare for any crisis situation. We are making every effort to ensure that there are no disruptions in the natural gas supply through monitoring inventory status and stable management of production and supply facilities."

According to KOGAS, although Korea imports a significant portion of its energy from the Middle East, there has been no impact on domestic LNG imports and transportation due to the armed conflict so far.

KOGAS expects that even if the Middle East situation escalates and disruptions in the import of Middle Eastern natural gas persist for a considerable period, it will proactively secure the necessary winter supply in advance, so there will be no major issues in gas supply. The corporation plans to continue closely monitoring the uncertain situation and thoroughly prepare accordingly.

Choi Yeon-hye, President of KOGAS, said, "This Middle East conflict once again highlights the importance of energy security. We will do our utmost to ensure a stable supply of natural gas so that the public can have a warm winter under any crisis situation by maintaining a fully prepared response posture."

Meanwhile, KOGAS held a public-private-government gas supply inspection meeting chaired by the Ministry of Trade, Industry and Energy on the 17th. On the 18th, it conducted a winter supply countermeasure team meeting to check the required winter supply volume and the status of supply facilities, and is cooperating with related organizations to stabilize supply by expanding programs such as liquefied petroleum gas (LPG) blending and city gas demand reduction.

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