Nuclear Power Additions Not Expected to Significantly Cut Into South Korea’s LNG Demand

South Korea’s plans to bring online more nuclear power capacity could cut natural gas demand this summer, but the strategy is unlikely to curb demand the way it has in Japan.

“Korea’s nuclear projects have been under construction for some time, and Japan will be far ahead with switching their plants back on once they meet seismic risk requirements, but both countries will continue to need LNG,” David Hewitt of Hewitt Energy Perspectives told NGI.

South Korea’s gas demand could decline slightly this summer as it commissions a new nuclear reactor and a coal-fired plant, but the country’s installed power capacity exceeds demand. It is also switching out a percentage of its coal capacity with gas, which could further support liquefied natural gas longer-term. 

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Therese Robinson

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