SK Innovation E&S has strengthened its energy self-sufficiency capabilities by importing liquefied natural gas (LNG) directly produced from Australia’s Barossa gas field for the first time.
On February 24, the company announced that the first LNG cargo from the Barossa gas field arrived the previous day at the Boryeong LNG Terminal in South Chungcheong Province. The shipment was produced offshore in northwestern Australia and liquefied at the Darwin LNG terminal before being transported to Korea.
The import marks the first case in which a Korean private company has independently carried out the entire LNG value chain — from overseas gas field exploration and development to production and domestic import.
SK Innovation E&S acquired a stake in the Barossa gas field in 2012 and has advanced the project for approximately 14 years. Starting with this initial cargo, the company plans to supply around 1.3 million tons of LNG annually to Korea over the next 20 years, equivalent to roughly 3 percent of the country’s annual LNG imports.
The company emphasized that securing equity stakes in overseas gas fields and establishing long-term supply systems are strategically important for enhancing energy security. Amid heightened geopolitical risks and increased volatility in global gas prices, the Barossa project provides a stable and reliable supply base.
The project was developed using a brownfield approach by leveraging the existing Darwin LNG terminal, reducing initial capital expenditure. Transportation to Korea takes approximately eight to 10 days, offering logistical efficiency compared with longer-distance suppliers.
Building on this milestone, SK Innovation E&S plans to strengthen its LNG value chain and expand its presence as a comprehensive energy company in the Asia-Pacific region.
Lee Jong-soo, President of SK Innovation E&S, said the company will continue resource development efforts to contribute to national economic growth and to building a stable energy supply chain.
