South Korea's LNG Imports Set To Rise On Moon's Pro-Gas Policies

摘要

South Korea's natural gas consumption and LNG imports will increase over the coming years, due to President Moon Jae-in's ongoing eforts to reduce the domestic power sector's heavy reliance on coal and nuclear energy, in favour of natural gas and renewables. In line with Moon’s campaign pledge to cut greenhouse gas emissions and reduce reliance on coal and nuclear energy amid rising environmental and safety concerns, South Korea’s latest Basic Blueprint for Power Supply & Demand (unveiled on December 29 2017) outlines signifcantly more robust long-term generation targets for natural gas (LNG) and renewables energy (wind, solar), largely at the expense of coal and nuclear, the historical cornerstones of power generation in South Korea.