South Korea Oil and Gas Report

 Published On: Aug, 2016 |    No of Pages: 71 |  Published By: BMI Oil and Gas | Format: PDF
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BMI View: South Korea will remain a prominent player in the global fuels market, supported by a large and highly sophisticated refining and petrochemicals sectors. Nonetheless, a negligible upstream industry will render the country dependent on crude oil and natural gas imports from international suppliers throughout our forecast period to 2025.

Latest Updates & Key Forecasts
-South Korea produced 576.1mn bbl of refined products (equivalent to 3.1mn b/d) over H116, a 5.0% increase y-o-y, as low fuels prices helped to boost consumption for certain fuels in the domestic and regional markets. In particular, gasoline demand growth in the Asian emerging economies helped to support South Korea's exports to these countries.
-June crude imports were up 4.9% on year, on higher off-take from Iran and the commencement of new trades with Nigeria, Oman and Gabon.
-Qatar retained its position as South Korea's top LNG supplier, accounting for more 50.0% of the market share in Jun 2016.
-The country is targeting to provide LNG bunkering services to ships by 2017, starting with the city of Tongyeong. The effort is spearheaded by a consortium of 21 public-private firms.

BMI Industry View ... 7
Table: Headline Forecasts (South Korea 2014-2020) . . . 7
SWOT ...... 8
Oil & 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 ..... 11
Table: South Korea - Key Upstream Projects . . . . 11
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) 15
Refining . 16
Latest Updates 16
Structural Trends ..... 16
Table: Refining Capacity and Refined Products Production (South Korea 2014-2019) . . . 18
Table: Refining Capacity and Refined Products Production (South Korea 2020-2025) . . . 19
Refined Fuels Consumption .. 20
Latest Updates 20
Structural Trends ..... 20
Table: Refined Products Consumption* (South Korea 2014-2019) 22
Table: Refined Products Consumption* (South Korea 2020-2025) 22
Gas Consumption ...... 23
Latest Updates 23
Structural Trends ..... 23
Table: Gas Consumption (South Korea 2014-2019) . . . 26
Table: Gas Consumption (South Korea 2020-2025) . . . 26
Trade - Oil ...... 27
Crude Oil: Latest Updates .. 27
Crude Oil: Structural Trends ........ 27
Table: Crude Oil Net Exports (South Korea 2014-2020) . . . . . 29
Table: Crude Oil Net Exports (South Korea 2020-2025) . . . . . 30
Refined Oil: Latest Updates 30
Refined Oil: Structural Trends ...... 30
Table: Refined Fuels Net Exports (South Korea 2014-2019) . 32
Table: Refined Fuels Net Exports (South Korea 2020-2025) . 32
Trade - Gas (Pipeline And LNG) .... 33
Latest Updates 33
Structural Trends ..... 33
Table: Gas Net Exports (South Korea 2014-2019) . . . . . 35
Table: Gas Net Exports (South Korea 2020-2025) . . . . . 36
Industry Risk/Reward Index ... 37
Asia - Risk/Reward Index ..... 37
Table: Asia's Oil & Gas Risk/Reward Index 37
Table: Asia: Upstream Risk/Reward Index . 40
Table: Asia: Downstream Risk/Reward Index . . . . 42
South Korea - Risk/Reward Index ... 44
Upstream Index ....... 44
Downstream Index ... 44
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
Company Profile .... 53
KOGAS . 53
Table: Major Current Assets . . . . 54
Table: KOGAS - Key Financial Data . 54
KNOC ... 55
Table: Major Producing Assets . 56
Table: KNOC - Key Financial Data . . 56
Regional Overview 57
Asia - Positive Gas Output Growth In Conflict With Bearish Oil Outlook ..... 57
Glossary ........ 64
Table: Glossary Of Terms 64
Methodology . 66
Industry Forecast Methodology .... 66
Source . 68
Risk/Reward Index Methodology ... 68
Table: Bmi's Oil & Gas Upstream Risk/Reward Index . 70
Table: Weighting . . . 71
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