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KOSPO is seeking between 3 trillion British thermal units (TBtu) and 3.6 TBtu of LNG on a delivered ex-ship (DES) basis.
Moreover, the delivery window is July 4-5, and the volumes will be delivered to a Kogas-operated LNG import terminal or an alternate LNG terminal in South Korea, according to KOSPO.
The price will be linked to JKM.
“Kospo may, at any time prior to and/or after selecting preferred bidder, request to revise its proposal from a JKM-linked price to a fixed price and/or any formula linked with other indices,” it said.
Kospo launched the tender on May 21 and bids can be submitted by May 26 at 18:00 (KST).
Kospo and the preferred bidder are expected to enter into an MSA in June, it said.
According to Kospo’s website, the firm has seven LNG power plants: Shinincheon, Busan, Namjeju, Yeongwol, Andong, ShingSejong, and Hanlim.
Before this tender, Korea Midland Power (Komipo), Kospo, and a unit of SK released a joint tender inviting firms to submit bids for one spot LNG shipment for delivery in June.
Kospo also launched one tender in February for April delivery. The firm launched two tenders in 2024.
According to customs data, South Korean LNG terminals took 4.04 million mt in April this year, a drop from 4.16 million mt in April 2024.
During January-April, South Korean LNG terminals received 16.03 million mt of LNG, a drop compared to 16.79 million mt in 2024.
Australia was the biggest supplier to South Korea during the four-month period, with 5.05 million mt of LNG, followed by Malaysia with 2.66 million mt, and Qatar with 2.59 million mt, the data shows.