Commodity market report
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13 Pages

South Korea LNG long-term outlook 2014

South Korea LNG long-term outlook 2014

Report summary

South Korea’s LNG demand will increase by over 20% to 2030.  In line with this demand growth, two new regas terminals are under-construction.  The competitive landscape is intensifying as more companies seek to import LNG.  Longer-term, the country’s import mix will diversify further as LNG from the United States enters the market in future.  

What's included?

This report includes 2 file(s)

  • South Korea LNG long-term outlook 2014 PDF - 410.10 KB 13 Pages, 5 Tables, 6 Figures
  • 01 south korea data 2014.xls XLS - 405.00 KB


As global energy demand rises, the market for liquefied natural gas (LNG) continues to expand. Set to increase by 50% between 2015 and 2020, the LNG market is one of the fastest growing in the world. This spectacular growth is transforming the market, with many new companies entering the sector and changing the industry landscape.

This LNG Long Term Outlook report provides an overview of LNG in the gas market.

LNG market participants and advisers can use this report to better understand the long-term role of this market in the global LNG business.

Offering bottom-up market analysis for over 150 LNG supply assets, 28 LNG-importing countries and more than 500 LNG contracts, Wood Mackenzie is the definitive and trusted resource for the LNG industry. We use our robust database and expert industry knowledge to help you understand the dynamics of the global LNG industry and identify emerging trends and opportunities.

  • Executive summary
    • Keys Facts
  • Infrastructure
    • LNG Infrastructure
    • Current LNG status and access
    • Future LNG terminal development
  • Contracts
    • Legacy contracts
    • Recent contracts
    • North American export potential
    • Contracts with non-KOGAS LNG players
    • Longer-term potential supply options
    • Contracted LNG supply position versus available regasification capacity
  • Trade
    • Historical LNG Imports
    • LNG Specification
    • LNG Demand
      • LNG and gas demand
      • Short term LNG outlook
      • The uncontracted supply-demand gap is expected to be 850 mmcfd in 2014. Deliveries from Qatar and Nigeria account for around two-thirds of the uncontracted supply. The gap is expected to grow to reach 1,500 mmcfd by 2017 on the back of rising demand.
      • Medium & Long term LNG outlook
      • South Korea's contracted supply shortfall widens to 1,637 mmcfd by 2020 as demand growth continues, and contracted volumes from Bontang fall off. The ramp-up of new supply contracts—from the GLNG, Gorgon and Sabine Pass projects—will hold the supply-demand gap steady until 2024. Beyond this point, however, the gap between contracted supply and demand opens significantly due to the expiry of contracts with Qatar and Oman. The gap reaches 4,450 mmcfd by 2030.
  • Costs
    • Regasification Tariffs
  • Key companies
    • Key Players
  • Policy and regulation
    • Regulatory Overview

In this report there are 11 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Infrastructure
    • Infrastructure: Image 1
    • LNG import terminals
  • Contracts
    • LNG Contracts
    • Additional LNG contracts
    • Contracts: Image 1
  • Trade
    • Trade: Image 1
    • Seasonal Profile
    • Contracted LNG import outlook
  • Costs
    • Breakeven cost stack of potential LNG supplies into market
  • Key companies
    • Key companies: Table 1
  • Policy and regulation
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