S. Korea maintaining stable LNG supply amid Israel-Hamas conflict

South Korea maintains a steady supply of liquefied natural gas and is actively preparing for potential contingencies amid Middle East geopolitical uncertainties, the industry ministry said Tuesday.

"There have been concerns over the supply of gas following the Israel-Hamas incident amid the lingering war between Russia and Ukraine, but the supply currently remains stable," Director-General for Resource Policy Ryu Peob-min said during a meeting with industry officials.

"However, in the event of a further escalation of the Israel-Hamas situation, we cannot rule out its potential impact on the domestic supply. We are committed to remaining vigilant and thoroughly preparing for an emergency," he added.

During the meeting, the state-run Korea Gas Corp. noted that the country is maintaining LNG reserves at maximum capacity, with the supply anticipated to remain stable through the end of March.

The government plans to hold regular meetings with KOGAS and other LNG importers to maintain a stable supply of the resource, the ministry added. (Yonhap)