LNG

South Korean energy ministry forecasts a rise in gas demand to 2031

South Korea’s gas demand will rise to 40.5 mt in 2031 on higher household and industrial consumption.
By Staff reporter 5 April 2018 0 30303

South Korea’s gas demand will reach 36.5 mt of LNG equivalent this year and rise to 40.5 mt in 2031 on higher household and industrial consumption, Reuters reported on Thursday, citing a gas supply-demand report for 2018-2031 released by the energy ministry.

This marks a reversal from previous expectations that demand would decline to 34.7 mt in 2029, from 36.5 mt in 2014, because of lower power generation demand.

The country plans to spend KRW 5.8 trillion ($5.48 billion) by 2031 expanding gas supply...