South Korea has expressed concern regarding the United Kingdom’s plan to implement a total ban on insurance and maritime transport for Russian liquefied natural gas (LNG) starting in January 2027. During a telephone conversation between Yeo Han-koo, trade negotiations curator at the Ministry of Trade, Industry and Energy of the Republic of Korea, and British Trade Minister Anas Sarwar, Seoul warned that these measures could compromise the country’s energy security.
Photo: photozou.jp by 青空白帆, https://creativecommons.org/licenses/by/2.1/
LNG tanker
The primary risk for Seoul centers on the Sakhalin-2 project. The state-owned Korea Gas Corporation (KOGAS) is bound by a long-term contract to purchase gas from the island until 2028. Because the transport of LNG from Russia to Asia relies on international insurance and tanker fleet operations, British restrictions could block logistics despite existing contracts.
| Parameter | Details |
|---|---|
| Supply Object | LNG from Sakhalin-2 project |
| KOGAS Contract Term | Until 2028 |
| UK Ban Effective Date | January 2027 |
The South Korean side reminded London that the European Union has already reached a compromise. Under the EU’s 21st sanctions package, an exception was made for Seoul, permitting financial and transport support for Sakhalin-2 supplies until 2028.
Yeo Han-koo, Ministry of Trade, Industry and Energy: Urged British authorities to consider the difficulties facing private business and the necessity of global energy market stability.
Both parties intend to maintain communication to find a resolution that avoids the cessation of gas supplies to South Korea.
Source: This article was adapted from an original Russian-language publication by Pravda.Ru.