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South Korea's Ministry Plans Natural Gas Infrastructure Expansion as Demand to Decline to 41M Tons by 2038

2026-07-27 05:51:02

NG-3.35%

According to the Ministry of Trade, Industry and Energy, South Korea released its 16th long-term natural gas supply-demand plan on July 27. Total natural gas demand is projected to decline from 45.91 million tons this year to 41 million tons by 2038, a year-over-year decrease of 0.94 percent. To ensure stable supply, the ministry plans to expand private storage tank capacity by 8.87 million tons and construct an additional 564 kilometers of main pipelines by 2038. The plan also includes establishing an integrated natural gas supply-demand management system using AI-based forecasting to enhance crisis response capabilities.

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