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.