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South Korea Oil and Gas Report Q1 2017

  • November 2016
  • -
  • Business Monitor International
  • -
  • 75 pages

Includes 3 FREE quarterly updates


BMI View:

South Korea will continue to remain a major global refining powerhouse due to a highly complex and sophisticated refining industry, though export volumes will come under pressure in the long term due to falling utilisation rates and growing competition in the exports market. The country is also the world’s second largest consumer of LNG, though import volumes are poised to record consistent yearly declines over the coming decade on greater fuel source diversification (towards coal, nuclear and renewables energy) hit gas consumption for electricity generation.

Latest Updates And Key Forecasts



- South Korea’s crude imports hit a multi-month high in September 2016, as refiners boosted runs to capture strong domestic and regional demand for automotive fuels, petrochemicals and lubricants. South Korea imported a total of 802.0mn bbl of crude oil in M916, up 4.8% on year.

- Crude imports from Iran have more than doubled in y-o-y terms, since the removal of international sanctions on the Middle Eastern country in January 2016.

Table Of Contents

South Korea Oil and Gas Report Q1 2017
BMI Industry View 7
Table: Headline Forecasts (South Korea 2014-2020) 7
SWOT 8
Oil and Gas SWOT 8
Industry Forecast 10
Upstream Exploration 10
Latest Updates 10
Structural Trends 10
Table: Proven Oil And Gas Reserves (South Korea 2014-2019) 11
Table: Proven Oil And Gas Reserves (South Korea 2020-2025) 11
Upstream Projects 12
Table: South Korea - Key Upstream Projects 12
Upstream Production - Oil 13
Latest Updates 13
Structural Trends 13
Table: Oil Production (South Korea 2014-2019) 14
Table: Oil Production (South Korea 2020-2025) 14
Upstream Production - Gas 15
Latest Updates 15
Structural Trends 15
Table: Gas Production (South Korea 2014-2019) 15
Table: Gas Production (South Korea 2020-2025) 16
Refining 17
Latest Updates 17
Structural Trends 17
Table: Refining Capacity And Refined Products Production (South Korea 2014-2019) 20
Table: Refining Capacity And Refined Products Production (South Korea 2020-2025) 20
Refined Fuels Consumption 21
Latest Updates 21
Structural Trends 21
Table: Refined Products Consumption* (South Korea 2014-2019) 23
Table: Refined Products Consumption* (South Korea 2020-2025) 23
Gas Consumption 24
Latest Updates 24
Structural Trends 24
Table: Gas Consumption (South Korea 2014-2019) 26
Table: Gas Consumption (South Korea 2020-2025) 27
Trade - Oil 28
Crude Oil Trade Forecast 28
Latest Updates 28
Structural Trends 28
Table: Crude Oil Net Exports (South Korea 2014-2019) 30
Table: Crude Oil Net Exports (South Korea 2020-2025) 31
Refined Fuels Trade Forecast 31
Latest Updates 31
Structural Trends 31
Table: Refined Fuels Net Exports (South Korea 2014-2019) 33
Table: Refined Fuels Net Exports (South Korea 2020-2025) 33
Trade - Gas (Pipeline And LNG) 34
Latest Updates 34
Structural Trends 34
Table: Gas Net Exports (South Korea 2014-2019) 36
Table: Gas Net Exports (South Korea 2020-2025) 37
Industry Risk/Reward Index 38
Asia - Risk/Reward Index 38
Table: Asia's Oil and Gas Risk/Reward Index 39
Table: Asia: Upstream Risk/Reward Index 41
Table: Asia: Downstream Risk/Reward Index 44
South Korea - Risk/Reward Index 45
Upstream Index 45
Downstream Index 46
Market Overview 47
South Korea Energy Market Overview 47
Fiscal Regime 47
Table: Key Fiscal Indicators 47
Open Blocks 48
Table: Open Offshore Blocks 48
Oil And Gas Infrastructure 49
Oil Refineries 49
Table: Oil Refineries In South Korea 49
Oil Storage 50
Table: Crude Oil and Products Storage Bases In South Korea 50
LNG Terminals 50
Table: LNG Terminals In South Korea 50
Gas Storage 51
Table: Gas Storage Facilities In South Korea 51
Table: Gas Storage Facilities In South Korea Under Construction 52
Gas Pipelines 52
Table: Gas Distribution Pipelines In South Korea 52
Competitive Landscape 53
Company Profile 55
KOGAS 55
Table: Major Current Assets 56
Table: KOGAS - Key Financial Data 57
KNOC 58
Table: Major Producing Assets 59
Table: KNOC - Key Financial Data 59
Regional Overview 60
Asia - Oil Outlook Subdued On Persistent Price Weakness 60
Glossary 68
Table: Glossary Of Terms 68
Methodology 70
Industry Forecast Methodology 70
Source 72
Risk/Reward Index Methodology 72
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 74
Table: Weighting 75

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