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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World S.Korea Nov LNG, coal imports up on year Reuters - Tuesday, December 15 Send IM Story Print * Nov LNG imports rise 2 pct to 2.64 mln T y/y * Nov coal imports gain 4 pct to 7.9 mln T y/y * S.Korea LNG stocks by end-Nov estimated down 6 pct y/y By Cho Mee-young SEOUL, Dec 15 - South Korea's imports of liquefied natural gas rose in November from a year ago, while LNG stocks held by state-owned Korea Gas Corp <036460.KS> were down by end-November due to bullish demand, industry data and Reuters calculations showed on Tuesday. South Korea, the world's second-largest LNG buyer after Japan, imported 2.64 million tonnes of LNG in November, up 2 percent from 2.58 million tonnes a year earlier, according to the Korea Customs Service. KOGAS, the world's biggest corporate buyer of LNG and South Korea's sole wholesaler, said last Friday it sold 2.63 million tonnes of LNG last month, up 7.7 percent from a year ago thanks to an economic recovery and seasonal demand. [ID:nSEL002812] Based on previously reported inventory data and adjusted for net imports less reported sales, Reuters calculations showed South Korean LNG inventory held by KOGAS at the end of November probably dropped 6 percent to 2.34 million tonnes from 2.49 million tonnes a year earlier. (For a related graphic: http://graphics.thomsonreuters.com/129/KR_LNGINV1209.gif) KOGAS' LNG stocks at the end of October were estimated at 2.3 million tonnes versus 2.2 million a year earlier, according to Reuters calculations. [ID:nSEO165396] The Korea Energy Economics Institute and other industry sources stopped publishing the data earlier this year after the government and KOGAS barred them from doing so, arguing that disclosure would weaken their power to negotiate import prices. SIGNS OF RECOVERY KOGAS noted in a statement that it accounted for 96.6 percent of the country's total natural gas consumption in 2008, POSCO <005490.KS> for 1.6 percent and K-Power for the remainder. Last month, South Korea paid an average of $475 a tonne for LNG, up from an average of $458 paid in October. November's average was equivalent to $9.16 per million British thermal units , up from $8.82 per mmBtu in the previous month. LNG demand from January to September was muted from Japan and South Korea, traditionally heavy importers, as local power utilities shifted to cheaper fuel oil or coal for power generation. But it has shown signs of recovery since October on seasonal factors and strengthening economies. South Korea's electricity demand for industrial use jumped 12.0 percent in November over a year earlier on a rebound in exports, the fastest annual pace in nearly eight years, the government said on Monday. [ID:nTOE5BD00W] Of South Korea's total primary energy consumption, LNG accounts for about 15 percent and coal 25 percent, versus 45 percent for oil products. The country's imports of heating coal in November also rose 4 percent to 7.9 million tonnes from 7.6 million tonnes a year ago, the customs data showed earlier on Tuesday. 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