South Korea is dependent on Australia and Qatar for its LNG supply
LNG crucial for South Korea despite nuclear focus
Liquefied gas may lose market share to nuclear in South Korea, but demand could still be robust
South Korea is the world’s third-largest LNG importer, behind China and Japan. The country takes in c.46mn t/yr of the fuel, more than 10pc of the global market, making it a key consumer in a sector that has only grown in importance since the start of the Ukraine war and the emergence of Europe as a competing demand hub. And despite Seoul’s renewed embrace of nuclear power and plans to trim its dependence on imported gas, South Korea’s LNG intake is unlikely to have peaked, analysts suggest. The government of President Yoon Suk Yeol plans to build new nuclear power plants, in a significant departure from the previous administration of Moon Jae-in, who halted nuclear projects and talked about
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
