Market Report, "South Korea Oil & Gas Report Q1 2013", Published
BMI View: While there are new efforts to stimulate upstream oil and gas activity and improve energy self-sufficiency, there is little to suggest that South Korea can develop significant resources, meaning the country is set to remain a key importer of crude and natural gas in liquefied form. Meanwhile, the government is planning fresh initiatives aimed at reducing oil consumption, while the state gas industry continues to buy into overseas LNG schemes to meet growing demand.
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