Commodity market report

South Korea LNG long-term outlook 2014

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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 contains

  • Document

    South Korea LNG long-term outlook 2014

    PDF 410.10 KB

  • Document

    South Korea LNG long-term outlook 2014

    ZIP 521.45 KB

  • Document

    01 south korea data 2014.xls

    XLS 405.00 KB

  • Document

    Executive summary

    PDF 89.68 KB

  • Document


    PDF 145.90 KB

  • Document


    PDF 108.95 KB

  • Document


    PDF 108.33 KB

  • Document


    PDF 88.46 KB

  • Document

    Key companies

    PDF 85.90 KB

  • Document

    Policy and regulation

    PDF 56.24 KB

Table of contents

    • Keys Facts
    • LNG Infrastructure
    • Current LNG status and access
    • Future LNG terminal development
    • 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
    • Historical LNG Imports
    • LNG Specification
      • 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.
    • Regasification Tariffs
    • Key Players
    • Regulatory Overview

Tables and charts

This report includes 11 images and tables including:


  • Breakeven cost stack of potential LNG supplies into market
  • Infrastructure: Image 1
  • Contracts: Image 1
  • Trade: Image 1
  • Seasonal Profile
  • Contracted LNG import outlook


  • LNG Contracts
  • Executive summary: Table 1
  • LNG import terminals
  • Additional LNG contracts
  • Key companies: Table 1

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