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New Market Study Published: South Korea Oil & Gas Report Q1 2014


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2013-12-09 10:13:59 - New Energy market report from Business Monitor International: "South Korea Oil & Gas Report Q1 2014"

While there are efforts to stimulate upstream oil and gas activity, there is little to suggest that South Korea can develop significant resources, meaning the country is set to remain a key importer of crude and natural gas in liquefied form. Meanwhile the government is planning initiatives aimed at reducing oil and LNG consumption, though a safety scandal in the nuclear industry is driving demand of LNG imports to cover for lost power generation over the short term.

The main trends and developments we highlight for the South Korean oil and gas sector are:

* The impact of the US' shale gas boom has been particularly felt by South Korea's petrochemical industry. This is one of the chief reasons for the

government's push for greater Korean involvement in global shale gas developments, as it hopes that upstream asset control can allow for greater supply security and lower gas import prices.
* Korea has also made considerable efforts to modernise and upgrade its refining sector. The focus has been on expanding production of high margin products such as paraxylene, to become more competitive in the regional and global downstream sector.
* Scandals regarding bogus safety certificates in the nuclear sector have shut down three facilities while delayed a further three from being commissioned. The loss in power generation from nuclear is demanding greater imports of LNG, with gas making up the difference. From January to September, LNG imports have risen 12% year-on-year.
* There is considerable uncertainty with regard to import demand created from the scandal in the nuclear sector. Our base case scenario anticipates reduced demand for oil and we see import costs falling from US$97.2bn in 2013 to US$91.3bn in 2017. From 2017 we expect small demand increases to be counter-balanced by falling crude prices leaving oil import costs of around US$90.5bn. As the second largest LNG importer natural gas cost will remain high and rise slightly from US$27.9bn in 2013 as Korea manages the difficulties in its nuclear power industry. We expect coal and nuclear to play a bigger role in the longer term, reducing LNG imports to US$26.1bn in 2017.
* Korea's upstream sector maintains its bleak outlook with no positive developments in oil or gas prospecting seen in 2013. The country's only producing gas field Donghae-1 is expected to be largely depleted by 2017 and could be converted into a storage facility.

Full Report Details at
- www.fastmr.com/prod/723594_south_korea_oil_gas_report_q1_2014.as ..

Partial Table of Contents:

BMI Industry View
SWOT
Industry Forecast
- Oil And Gas Reserves
- Table: South Korea - Proven Oil & Gas Reserves & Total Petroleum Data, 2011-2016
- Table: South Korea - Proven Oil & Gas Reserves And Total Petroleum Data, 2017-2022
- Oil Supply And Demand
- Table: South Korea - Oil Production And Net Exports, 2011-2016
- Table: South Korea - Oil Production And Net Exports, 2017-2022
- Gas Supply And Demand
- Table: South Korea - Gas Production, Consumption And Net Exports, 2011-2016
- Table: South Korea - Gas Production, Consumption And Net Exports, 2017-2022
- Table: Major Korean LNG Supply Deals
- Refining And Oil Products Trade
- Table: Refining - Production And Consumption, 2011-2016
- Table: Refining - Production And Consumption, 2017-2022
- Revenues/Import Costs
- Key Risks To BMI's Forecast Scenario
Industry Risk Reward Ratings
- Asia - Risk/Reward Ratings
- Table: Asia's Oil & Gas Risk/Rewards Ratings
- The Upstream Leaders
- Resource-Rich Countries Hit By Country Structure
- Table: Asia Upstream Sector Risk/Reward Ratings
- Downstream Support
- Table: Asia O&G Downstream Risk/Reward Ratings
- South Korea - Risk/Reward Ratings
Market Overview
- South Korea Energy Market Overview
- Oil And Gas Infrastructure
- Oil Refineries
- Table: Refineries In South Korea
- Service Stations
- Oil Storage
- LNG Terminals
- Table: LNG Terminals In South Korea
- Gas Storage
- Gas Pipelines
Competitive Landscape
- Competitive Landscape Summary
- Table: Key Players - South Korean Oil And Gas Sector
- Table: Key Upstream Players
- Table: Key Downstream Players
Company Profile
- Korea National Oil Corporation (KNOC)
- Korea Gas (Kogas)
- SK Innovation
- Other Summaries
Regional Overview
- Asia Overview
- Energy Shifts
- Pacific Leads Liquefaction Boom, With Challenges
- Table: Expansion Of Liquefaction Capacity In Australia & PNG
- LNG Demand Stays Buoyant
- Unconventional Rescue
- Refining Woes
Global Industry Overview
Appendix
- Asia - Regional Appendix
- Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
- Table: Oil Consumption - Long-Term Forecasts, 2015-2022 ('000b/d)
- Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
- Table: Oil Production - Long-Term Forecasts, 2015-2022 ('000b/d)
- Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
- Table: Refining Capacity - Long-Term Forecasts, 2015-2022 ('000b/d)
- Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
- Table: Gas Production - Long-Term Forecasts, 2015-2022 (bcm)
- Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
- Table: Gas Consumption - Long-Term Forecasts, 2015-2022 (bcm)
- Table: LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
- Table: Net LNG Exports - Long-Term Forecasts, 2015-2022 (bcm)
Glossary
- Table: Glossary Of Terms
Methodology
- Industry Forecast Methodology
- Source
- Risk Reward Rating Methodology
- Table: Bmi's Oil & Gas Upstream Risk Reward Ratings

Full Table of Contents is available at:
-- www.fastmr.com/catalog/product.aspx?productid=723594&dt=t

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.


Author:
Bill Thompson
e-mail
Web: www.fastmr.com
Phone: 18008448156

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