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  5. > South Korea Oil and Gas Report Q1 2016

South Korea Oil and Gas Report Q1 2016

  • November 2015
  • -
  • Business Monitor International
  • -
  • 92 pages

BMI View

: Even as we expect the current lower oil price environment to continue to support refiningmargins and lower crude feedstock costs, the slowdown in demand in South Korea's major refined fuelsexports markets, notably China, will keep a lid on exports growth over the next decade. We also note thatwhile South Korea will remain a sizable net importer of LNG through to 2024, muted economic growth andenergy diversification in the power sector will see the country's import requirements gradually trenddownwards over the long-term.

Latest Updates And Key Forecasts

- South Korea's large refining sector will keep its crude oil imports elevated over the next decade, helpingit to maintain its position as the world's fifth largest crude oil importer.

- The Middle East will remain the country's largest supplier of crude oil, though the government is activelytrying to diversify its crude sources. In fact, the country plans to provide freight incentives to non-MiddleEastern crude shipments from 2016. This will provide greater opportunities for suppliers in Europe,Africa and the Americas.

Table Of Contents

South Korea Oil and Gas Report Q1 2016
BMI Industry View 7
Table: Headline OandG Forecasts (South Korea 2013-2019) 7
Latest Updates And Key Forecasts 7
SWOT 8
Oil and Gas SWOT 8
Industry Forecast 9
Upstream Exploration 9
Latest Updates 9
Structural Trends 9
Table: Proven Oil and Gas Reserves (South Korea 2013-2018) 10
Table: Proven Oil and Gas Reserves (South Korea 2019-2024) 10
Upstream Projects 11
Table: South Korea - Key Upstream Projects 11
Upstream Production - Oil 12
Latest Updates 12
Structural Trends 12
Table: Oil Production (South Korea 2013-2018) 13
Table: Oil Production (South Korea 2019-2024) 13
Upstream Production - Gas 14
Latest Updates 14
Structural Trends 14
Table: Gas Production (South Korea 2013-2018) 14
Table: Gas Production (South Korea 2019-2024) 15
Refining 16
Latest Updates 16
Structural Trends 16
Table: Refining Capacity and Refined Products Production (South Korea 2013-2018) 18
Table: Refining Capacity and Refined Products Production (South Korea 2019-2024) 19
Refined Fuels Consumption 20
Latest Updates 20
Structural Trends 20
Table: Refined Products Consumption (South Korea 2013-2018) 22
Table: Refined Products Consumption (South Korea 2019-2024) 22
Gas Consumption 23
Latest Updates 23
Structural Trends 23
Table: Gas Consumption (South Korea 2013-2018) 24
Table: Gas Consumption (South Korea 2019-2024) 25
Trade - Oil 26
Crude Oil Trade Forecasts 26
Latest Updates 26
Structural Trends 26
Table: Crude Oil Net Exports (South Korea 2013-2018) 28
Table: Crude Oil Net Exports (South Korea 2019-2024) 29
Refined Oil Trade Forecasts 29
Latest Updates 29
Structural Trends 29
Table: Refined Fuels Net Exports (South Korea 2013-2018) 31
Table: Refined Fuels Net Exports (South Korea 2019-2024) 32
Trade - Gas (Pipeline And LNG) 33
Latest Updates 33
Structural Trends 33
Table: Gas Net Exports (South Korea 2013-2018) 35
Table: Gas Net Exports (South Korea 2019-2024) 36
Industry Risk Reward Index 37
Table: Asia: Upstream Risk/Reward Index 38
Table: Asia: Downstream Risk/Reward Index 40
South Korea - Oil and Gas Risk/Reward Index 43
South Korea Upstream Index - Overview 43
South Korea Upstream Index - Rewards 43
South Korea Upstream Index - Risks 43
South Korea Downstream Index - Overview 43
Market Overview 45
South Korea Energy Market Overview 45
Fiscal Regime 45
Table: Key Fiscal Indicators 45
Open Blocks 45
Table: Open Offshore Blocks 45
Oil And Gas Infrastructure 47
Oil Refineries 47
Table: Refineries In South Korea 47
Oil Storage 47
Table: Oil Storage Facilities In South Korea 48
LNG Terminals 48
Table: LNG Terminals In South Korea 48
Gas Storage 49
Table: Gas Storage Facilities In South Korea 49
Table: Gas Storage Facilities In South Korea Under Construction 49
Gas Pipelines 50
Table: Gas Distribution Pipelines In South Korea 50
Competitive Landscape 51
Competitive Landscape Summary 51
Table: Key Players - South Korean Oil and Gas Sector 53
Table: Key Upstream Players 53
Table: Key Downstream Players 53
Company Profile 54
Korea Gas (KOGAS) 54
Korea National Oil Corporation (KNOC) 59
SK Innovation 64
Other Summaries 70
Regional Overview 74
Asia - Weak Oil Prices Will Hit Region's Long-Term OandG Production 74
Glossary 85
Table: Glossary Of Terms 85
Methodology 87
Industry Forecast Methodology 87
Source 89
Risk/Reward Index Methodology 89
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 91
Table: Weighting 92

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