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Markets & Forecasts

South Korea – government support for gas

South Korea’s recently approved third energy plan reaffirms the government’s support for gas which will help to boost consumption in the long term but challenges remain South Korea’s recently approved third energy plan reaffirms the government’s support for gas which will help to boost consumption in the long term but challenges remain.
By Catriona Scott 21 June 2019 Asia Pacific / Supply & Demand 0 34328
The South Korean government’s latest energy plans backs gas at the expense of other hydrocarbons in the development of the energy sector through 2040. (Kogas)

South Korea’s Cabinet approved the country’s latest energy plan at the start of June. The third energy plan was proposed in April and sets out targets for the development of the energy sector through 2040. Released every five years, the energy plans set out the agenda for the country’s future energy market. The latest plan broadly backs gas.

Coal use is to be reduced and no new nuclear reactors will be built, while gas is to become an even more important part of South Korea’s generation...