South Korea LNG market report
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Report summary
Table of contents
- Inter-fuel competition in the power sector, energy transition commitments and a mature economy are the primary drivers of South Korea’s LNG demand outlook
- South Korea’s energy policy is evolving amid political leadership change, which has remained supportive of gas and LNG till 2030
- KOGAS still dominates the country’s LNG infrastructure, while third-party access to infrastructure has improved
- As long-term contracts expire from mid-2020s, Korean buyers are looking to sign new term contracts as LNG supply security remains a primary concern for South Korea in the absence of other gas supply options
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