Commodity market report
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12 Pages

South Korea LNG long-term outlook 2016


South Korea LNG long-term outlook 2016

Report summary

Demand has weakened considerable over the past two years in the face of slower economic growth, mild weather, and competition from other fuels in the power sector. While weather and temperature anomalies may be temporary in nature, trends within the economy and power sector suggest a structural change, which will result in weak LNG demand through the early 2020s.  

What's included?

This report includes 2 file(s)

  • South Korea LNG long-term outlook 2016 PDF - 406.52 KB 12 Pages, 3 Tables, 6 Figures
  • 01 south korea data 2016.xls XLS - 401.00 KB

Description

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
  • Infrastructure
    • LNG Infrastructure
  • Contracts
    • Contracted LNG supply position versus available regasification capacity
  • Trade
    • LNG Demand
      • Short- and medium-term LNG outlook
        • Gas demand for power is expected to decline through 2017. With non-power demand growth only modestly offsetting this decline, the ramp up of long-term LNG contracts from Australia is expected to result in South Korea being over contracted on an ACQ basis by an average of 110 mmcfd through 2024.
      • Long-term LNG outlook
        • Only by 2025 do we see the need for more supply, with the gap between demand and contracted ACQ levels widens to 1,300 mmcfd. While we expect LNG demand to pick up from the early 2020s as the result of retiring nuclear power plants, the widening gap is also because of expiring long-term contracts with Qatar and Oman. The ramp-up of new supply contracts from the Sabine Pass and Freeport LNG projects in the US are treated as fully flexible and we currently do not assume that all of these volumes will enter South Korea.
  • Costs
    • Regasification Tariffs
  • Key companies
  • Policy and regulation
    • Regulatory Overview
    • Policy overview
      • 12th Long-term Natural Gas Supply and Demand Plan

In this report there are 9 tables or charts, including:

  • Executive summary
    • Keys Facts
  • Infrastructure
    • Infrastructure: Image 1
    • LNG import terminals
  • Contracts
    • Recent contracting activity
    • Contracts: Image 1
  • Trade
    • Historical LNG Imports
    • Seasonal Profile
    • Contracted LNG import outlook
  • Costs
    • Breakeven cost stack of potential LNG supplies into market
  • Key companies
  • Policy and regulation
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