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South Korea Oil and Gas Report Q2 2015

South Korea Oil and Gas Report Q2 2015

BMI View: South Korea will benefit from a lower oil price environment. Not only will its refiners gainsome breathing space after years of poor refining margins, it also could see a lower import bill. Gasconsumption is likely to trend downwards over our forecast period, owing to slower economic growth in theshort-term, and a shift away from gas in the power sector in the longer term.

The key trends for South Korea's oil and gas sector are:

South Korea's large refining sector will keep its crude oil import requirements high. It is also heavilyexposed to the Middle East, given that the region supplies more than 80% of its crude oil needs.

It will be more difficult for South Korea to diversify its crude import sources away from Middle Eastgiven the latter's willingness to offer competitive rates in exchange for market share.


BMI Industry View
Table: Headline Forecasts (South Korea 2013-2019)
SWOT
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Table: Proven Oil and Gas Reserves (South Korea 2013-2018)
Table: Proven Oil and Gas Reserves (South Korea 2019-2024)
Upstream Projects
Table: South Korea: Upstream Projects
Upstream Production - Oil
Table: Oil Production (South Korea 2013-2018)
Table: Oil Production (South Korea 2019-2024)
Upstream Production - Gas
Table: Gas Production (South Korea 2013-2018)
Table: Gas Production (South Korea 2019-2024)
Refining
Table: Refining Capacity and Refined Products Production (South Korea 2013-2018)
Table: Refining Capacity and Refined Products Production (South Korea 2019-2024)
Refined Fuels Consumption
Table: Refined Products Consumption* (South Korea 2013-2018)
Table: Refined Products Consumption* (South Korea 2019-2024)
Gas Consumption
Table: Gas Consumption (South Korea 2013-2018)
Table: Gas Consumption (South Korea 2019-2024)
Gas Consumption Forecast
Risks To Outlook
Trade - Oil
Crude Oil Trade
Table: Crude Oil Net Exports (South Korea 2013-2018)
Table: Crude Oil Net Exports (South Korea 2019-2024)
Crude Oil Trade
Refined Oil Trade
Table: Refined Fuels Net Exports (South Korea 2013-2018)
Table: Refined Fuels Net Exports (South Korea 2019-2024)
Table: Total Net Oil Exports - Crude and Products (South Korea 2013-2018)
Table: Total Net Oil Exports - Crude and Products (South Korea 2019-2024)
Trade - Gas (Pipeline and LNG)
Table: Gas Net Exports (South Korea 2013-2018)
Table: Gas Net Exports (South Korea 2019-2024)
LNG Trade
Table: Major Korean LNG Supply Deals
Industry Risk Reward Ratings
Asia Oil & Gas Risk/Reward Index
Table: Asia's Oil & Gas Risk/Reward Index
Table: Asia Upstream Sector Risk/Reward Index
Resource-Rich Countries Hit By State Involvement
Downstream Support
South Korea - Oil & Gas Risk Reward Index
South Korea Upstream Index - Overview
South Korea Upstream Index - Rewards
South Korea Upstream Index - Risks
South Korea Downstream Index - Overview
Market Overview
South Korea Energy Market Overview
Role Of The State
Oil And Gas Infrastructure
Oil Refineries
Table: Refineries In South Korea
Service Stations
Oil Storage
LNG Terminals
Table: LNG Terminals In South Korea
Gas Storage
Gas Pipelines
Competitive Landscape
Competitive Landscape Summary
Table: Key Players - South Korean Oil And Gas Sector
Table: Key Upstream Players
Table: Key Downstream Players
Company Profile
Korea National Oil Corporation (KNOC)
Korea Gas (Kogas)
SK Innovation
Other Summaries
Regional Overview
Asia Oil&Gas Regional Overview
Upstream Production: A Weaker Market Ahead
Asia: Hit By Industry Spending Caution
Downstream: Fierce Market Competition To Endure
Oil Consumption: Lower Prices Compensate For Subsidy Cuts
Gas Consumption: South Catches Up With North
Markets To Watch: India & Indonesia
Global Industry Overview
Global Industry Overview - 5 Themes For 2015: Oil & Gas
Table: LNG Export Terminals At Pre-FID Stage
Appendix
Asia - Regional Appendix
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Gas Consumption - Long-Term Forecasts, 2015-2023 (bcm)
Table: LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Net LNG Exports - Long-Term Forecasts, 2015-2023 (bcm)
South Korea - Total Hydrocarbons, 10-year Forecasts
Table: Total Hydrocarbons Production, Consumption and Net Exports (South Korea 2013-2018)
Table: Total Hydrocarbons Production, Consumption and Net Exports (South Korea 2019-2024)
South Korea - Refined Products Breakdown, 10-year Forecast
Table: Refined Petroleum Products, Production Breakdown (South Korea 2013-2018)
Table: Refined Petroleum Products, Production Breakdown (South Korea 2019-2024)
Table: Refined Petroleum Products, Consumption Breakdown (South Korea 2013-2018)
Table: Refined Petroleum Products, Consumption Breakdown (South Korea 2019-2024)
Table: Refined Petroleum Products, Net Exports Breakdown (South Korea 2013-2018)
Table: Refined Petroleum Products, Net Exports Breakdown (South Korea 2019-2024)
Glossary
Table: Glossary Of Terms
Methodology
Industry Forecast Methodology
Source
Risk/Reward Index Methodology
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting

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