Signal KEEI projects Korean gas demand to edge up 0.2 percent a year to 2030 as final use offsets lower power-sector use

Summary

Demand for natural and city gas in Korea is projected to rise just 0.2 percent a year over 2025 to 2030. Final consumption falls until 2027 as high international gas prices reduce commercial self-generation using LNG. After that, lower and more stable gas prices and a gradual recovery in petrochemicals are expected to lift final use over the period as a whole. Gas for power generation moves the other way, plunging in 2028 when a new east coast transmission line lets more baseload and renewable power reach consumers. Even with modest growth from 2029, gas use for power is expected to fall 1.9 percent a year over the whole period.