"South Korea Oil & Gas Report Q3 2011" is now available at Fast Market Research

Fast Market Research recommends "South Korea Oil & Gas Report Q3 2011" from Business Monitor International, now available
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June 20, 2011 - PRLog -- 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%.

Full Report Details at
- http://www.fastmr.com/prod/171491_south_korea_oil_gas_rep...

Global GDP growth in 2011 is forecast at 3.6%, down from 4.3% in 2010. Growth in both the US and Eurozone should be marginally higher than last year, while Chinese economic expansion will slow and Japan's growth will slump to 0.7% as a result of the devastating earthquake and tsunami in March 2011. Our oil price forecast for 2011 is US$101.9/bbl for the OPEC Basket, giving Brent at US$106/bbl and West Texas Intermediate (WTI) at US$95.3.30, although these differentials are subject to change.

South Korean real GDP rose by 6.1% in 2010, with average annual growth of 4.6% forecast over 2010- 2015. Several South Korean oil companies, including state interests, are engaged in securing international upstream production, but the domestic market offers little potential for oil or gas. Oil consumption beyond 2009 is forecast to increase by less than 1% per annum to 2015, implying demand of 2.24mn b/d by the end of the forecast period. Gas demand is forecast to rise from the 2010 level of 36.4bcm to 46.86bcm by 2015, with all of the fuel being imported in the form of liquefied natural gas (LNG).

Between 2010 and 2020, we are forecasting a reduction in South Korea's oil consumption from an estimated 2.25mn b/d to 2.19mn b/d (-2.37%), with the country's refining capacity rising from 2.769mn b/d to 2.907mn b/d. Gas demand is expected to rise from an estimated 35.81bcm in 2010 to nearly 55.0bcm by 2020, met almost entirely by LNG imports. Details of BMI's 10-year forecasts, which provide regional and country-specific projections, can be found at the end of this report.

South Korea now shares 13th place with Hong Kong, ahead only of Taiwan, in BMI's composite Business Environment (BE) league table. It takes 14th place, again ahead only of Taiwan, in BMI's updated upstream Business Environment ratings, given a virtual absence of hydrocarbon resources. The score reflects an exceptionally healthy country risk profile, which partly offsets the lack of reserves and output growth potential. The country has a comfortable lead over Taiwan in the upstream league table. South Korea ranks fifth, above Australia and Indonesia, in BMI's downstream Business Environment ratings, reflecting its relatively high levels of oil and gas consumption, established modern refining capability and relatively low level of state involvement. It is two points behind Singapore, and has limited ability to climb the league table.

Partial Table of Contents:

SWOT Analysis
- South Korea Political SWOT
- South Korea Economic SWOT
- South Korea Business Environment SWOT
- South Korea Energy Market Overview
Regional Energy Market Overview
- Oil Supply And Demand
- Table: Asia Pacific Oil Consumption (000b/d)
- Table: Asia Pacific Oil Production (000b/d)
- Oil: Downstream
- Table: Asia Pacific Oil Refining Capacity (000b/d)
- Gas Supply And Demand
- Table: Asia Pacific Gas Consumption (bcm)
- Table: Asia Pacific Gas Production (bcm)
- Liquefied Natural Gas
- Table: Asia Pacific LNG Exports/(Imports) (bcm)
Business Environment Ratings
- Asia Pacific Region
- Composite Scores
- Table: Regional Composite Business Environment Rating
- Upstream Scores
- Table: Regional Upstream Business Environment Rating
- South Korea Upstream Rating - Overview
- South Korea Upstream Rating - Rewards
- South Korea Upstream Rating - Risks
- Downstream Scores
- Table: Regional Downstream Business Environment Rating
- South Korea Downstream Rating - Overview
- South Korea Downstream Rating - Rewards
- South Korea Downstream Rating - Risks
Business Environment
- Legal Framework
- Infrastructure
- Labour Force
- Foreign Investment Policy
- Tax Regime
- Security Risk
Industry Forecast Scenario
- Oil And Gas Reserves
- Oil Supply And Demand
- Gas Supply And Demand
- Refining And Oil Products Trade
- Revenues/Import Costs
- Table: South Korea Oil And Gas - Historical Data And Forecasts
- Other Energy
- Table: South Korea Other Energy - Historical Data And Forecasts
- Key Risks To BMI's Forecast Scenario
- Long-Term Energy Outlook
Oil And Gas Infrastructure
- Oil Refineries
- Table: Refineries In South Korea
- Service Stations
- Oil Storage
- LNG Terminals
- Table: LNG Terminals In South Korea
- Gas Storage
- Gas Pipelines
Macroeconomic Outlook
- Table: South Korea - Economic Activity
Competitive Landscape
- Executive Summary
- Table: Key Players - South Korean Oil And Gas Sector
- Overview/State Role
- Government Policy
- International Energy Relations
- Table: Key Upstream Player
- Table: Key Downstream Players

Full Table of Contents is available at:
-- http://www.fastmr.com/catalog/product.aspx?productid=1714...

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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