South Korea Oil and Gas Report Q4 2016

Publisher Name :
Date: 31-Aug-2016
No. of pages: 71

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.

South Korea Oil and Gas Report Q4 2016

Table of Contents

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

List of Tables

Table: Headline Forecasts (South Korea 2014-2020)
Table: Proven Oil and Gas Reserves (South Korea 2014-2019)
Table: Proven Oil and Gas Reserves (South Korea 2020-2025)
Table: South Korea - Key Upstream Projects
Table: Oil Production (South Korea 2014-2019)
Table: Oil Production (South Korea 2020-2025)
Table: Gas Production (South Korea 2014-2019)
Table: Gas Production (South Korea 2020-2025)
Table: Refining Capacity and Refined Products Production (South Korea 2014-2019)
Table: Refining Capacity and Refined Products Production (South Korea 2020-2025)
Table: Refined Products Consumption* (South Korea 2014-2019)
Table: Refined Products Consumption* (South Korea 2020-2025)
Table: Gas Consumption (South Korea 2014-2019)
Table: Gas Consumption (South Korea 2020-2025)
Table: Crude Oil Net Exports (South Korea 2014-2020)
Table: Crude Oil Net Exports (South Korea 2020-2025)
Table: Refined Fuels Net Exports (South Korea 2014-2019)
Table: Refined Fuels Net Exports (South Korea 2020-2025)
Table: Gas Net Exports (South Korea 2014-2019)
Table: Gas Net Exports (South Korea 2020-2025)
Table: Asia's Oil & Gas Risk/Reward Index
Table: Asia: Upstream Risk/Reward Index
Table: Asia: Downstream Risk/Reward Index
Table: Key Fiscal Indicators
Table: Open Offshore Blocks
Table: Refineries In South Korea
Table: Oil Storage Facilities In South Korea
Table: LNG Terminals In South Korea
Table: Gas Storage Facilities In South Korea
Table: Gas Storage Facilities In South Korea Under Construction
Table: Gas Distribution Pipelines In South Korea
Table: Major Current Assets
Table: KOGAS - Key Financial Data
Table: Major Producing Assets
Table: KNOC - Key Financial Data
Table: Glossary Of Terms
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting
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