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SK gas Co. has begun LNG deliveries to the Korea Energy Terminal Co. (KET), marking LNG's introduction to Ulsan. The KET, a joint venture with Korea National Oil Corporation, is Ulsan's first LNG import terminal under construction at Ulsan North Port.

The Grace Cosmos vessel delivered 65,000 tons of LNG. KET will operate as an LNG storage and supply terminal with two tanks expected to be completed in September 2024 and another by 2026, totaling six tanks with a capacity of about 7.2 million tons. LNG from KET will supply Ulsan GPS, the world's first LNG-LPG dual power plant, starting operations in September 2024.