South Korea adopts 13‑year LNG supply plan to boost storage and diversify imports

The Ministry of Trade, Industry and Energy approved the 16th long‑term natural gas supply plan covering 2026‑2038. Total domestic demand is projected to fall from 45.9 million tonnes in 2023 to 41.0 million tonnes by 2038, with power‑generation use dropping by about 4.5 % annually. However, the plan adds a new “supply‑management demand” metric that accounts for GDP, temperature and base‑load generation, forecasting a modest rise to 47.67 million tonnes in 2038.

To meet expected growth in AI data centers and semiconductor clusters, the government will increase LNG storage capacity to a maximum of 8.87 million tonnes and construct an additional 564 km of main pipelines. Import sources will be diversified: the share of Middle‑East LNG is to be cut to just above 10 % while U.S. LNG is targeted to reach roughly 30 % of total imports.

The plan also calls for tighter coordination between Korea Gas Corporation and private importers, the integration of supply‑management data into a real‑time monitoring system, and the use of mid‑term contracts to reduce long‑term price risks. These steps aim to secure stable gas supply for high‑energy‑intensity industries while expanding the country’s overall gas‑security infrastructure.