by Kim Minyoung
Published 27 Apr.2022 20:23(KST)
Updated 27 Apr.2022 21:24(KST)
[Asia Economy Reporter Kim Min-young] Major foreign media reported on the 27th that South Korea will divert some of its liquefied natural gas (LNG) supplies to Europe, which is facing an energy shortage crisis due to Russia's invasion of Ukraine.
According to foreign media, citing anonymous sources, South Korea will allocate some LNG supplies for use in Europe by this summer at the request of the United States or Europe.
On the same day, Russia weaponized energy in response to Western sanctions by cutting off natural gas supplies to Poland and Bulgaria.
Russia stated that it would continue the supply suspension until the two countries agree to pay for gas in rubles, Russia's currency, as they have not made payments in rubles.
The European Union (EU) is pursuing a goal to reduce its dependence on Russian oil and gas by one-third by the end of this year and to completely stop imports by the end of 2027.
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