President Lee Jae-myung on the 25th (local time) welcomed the European Union's decision to grant South Korea an exemption for liquefied natural gas imports from Russia's Sakhalin-II project, stating it would significantly benefit citizens' daily lives and the economy amid growing energy supply uncertainties. The EU adopted its 21st Russia sanctions package on the 23rd (local time), including a provision allowing Korea to import LNG from Sakhalin-II until March 2028. President Lee raised Korea's energy security concerns and requested the exemption during the Korea-EU summit in Brussels in June, with the government continuously negotiating with the EU citing potential disruptions to domestic energy supply if Russian LNG sanctions expanded.
President Lee Welcomes EU Exemption Decision on X
President Lee, currently on a tour of the United States and Latin America, posted on X (formerly Twitter) on the 25th (local time) that he received welcome news regarding Korean companies being recognized as exempt from EU sanctions on Russian LNG. He wrote that this would greatly help citizens' daily lives and the economy in a situation where energy supply uncertainties are growing. The president emphasized that he explained the need for exceptional allowance for Sakhalin-II LNG for Korea's energy security and requested active interest during the Korea-EU summit in June. He stated the government would continue to do its best to protect citizens' lives and national interests through thorough responses.
![President Lee Jae-myung announces San Francisco AI Declaration at San Francisco AI Summit on the 24th (local time)]()
EU Grants Korea Sakhalin-II LNG Import Exemption Until March 2028
The EU included an exemption clause in its 21st Russia sanctions package adopted on the 23rd (local time), allowing Korea to import LNG produced from the Sakhalin-II project until March 2028. The exemption recognition until the contract expiration in March 2028 alleviates concerns about disruptions to domestic LNG supply. The government had continuously requested exemption from the EU, citing that expanded sanctions on Russian LNG could cause disruptions to domestic energy supply. The Sakhalin-II issue was discussed as a key economic and trade agenda at the Korea-EU summit held in Brussels in June, and this exemption measure is a follow-up achievement from those discussions, according to the presidential office.
Korea Gas Corporation Maintains 1.5 Million Ton Annual Contract Since 2008
Sakhalin-II is a project where Korea Gas Corporation has been importing 1.5 million tons of LNG annually under a long-term contract since 2008. The contract is set to expire in March 2028.
FAQ
What exemption did the EU grant to South Korea on the 25th (local time)?
The EU granted South Korea an exemption to import LNG from Russia's Sakhalin-II project until March 2028, as part of its 21st Russia sanctions package adopted on the 23rd (local time).
How much LNG does Korea Gas Corporation import from Sakhalin-II?
Korea Gas Corporation has been importing 1.5 million tons of LNG annually from Sakhalin-II under a long-term contract since 2008, with the contract expiring in March 2028.
