Research and Markets: South Korea Oil and Gas Report Q3 2011 - Available Now!

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/b3055c/south_korea_oil_an) has announced the addition of the "South Korea Oil and Gas Report Q3 2011" report to their offering.

South Korea Oil and Gas Report provides industry professionals and strategists, corporate analysts, oil and gas associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on South Korea's oil and gas industry.

This latest BMI South Korea Oil & Gas Report forecasts that the country will account for 7.58% of Asia Pacific regional oil demand by 2015, while making no appreciable contribution to supply. Regional oil use of 20.6mn barrels per day (b/d) in 2001 reached an estimated 26.4mn b/d in 2010 and is forecast to rise to around 29.6mn b/d by 2015. Regional oil production was around 7.6mn b/d in 2001 and averaged an estimated 8.0mn b/d in 2010. It is set to increase to 8.2mn b/d by 2015. Oil imports are growing rapidly, because demand growth is outstripping the pace of supply expansion. In 2001, the region was importing an average 12.99mn b/d. This total rose to an estimated 18.37mn b/d in 2010 and is forecast to reach 21.3mn b/d by 2015. The principal importers will be China, Japan, India and South Korea. By 2015 the only net exporter will be Malaysia.

In terms of natural gas, in 2010 the region consumed around 511.5bn cubic metres (bcm) and demand of 653.9bcm is targeted for 2015. Production of an estimated 405.8bcm in 2010 should reach 556.7bcm in 2015, implying net imports falling from around 105.7bcm to 97.2bcm. South Korea's estimated share of regional gas consumption in 2010 was around 7.12%, while its share of production is minimal. By 2015, its share of gas consumption is forecast to be 7.17%.

Read more inside South Korea Oil and Gas Report Q3 2011

Companies Mentioned:

• Korea National Oil Corporation (KNOC)
• Korea Gas (Kogas)
• SK Energy
• GS Caltex
• S-Oil
• Hyundai Oilbank
• Woodside Petroleum
• POSCO
• Daewoo International

For more information visit http://www.researchandmarkets.com/research/b3055c/south_korea_oil_an