South Korea’s gas consumption to fall 4% in 2022: report

It will stay the same in 2023 due to new nuclear and coal-fired plant start-ups.

Gas consumption in South Korea is expected to decline by 4% this year, assuming average temperatures in the coming winter, and will remain unchanged in 2023.

In a report, the International Energy Agence said this is due to the reduced power sector burn due to additional nuclear and coal-fired plant start-ups, offsetting the increasing gas use in the industrial sector.

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The country's gas imports were down 1.6% year-on-year (YoY) in the first half of 2022 as the aggregate import prices nearly doubled. 

Despite the nearly 5% YoY decline in gas use for power generation due to higher nuclear and coal-fired output, gas demand increased by 0.1% YoY due to the “healthy growth in the industrial, district heating, and city gas sectors.