Iranian Attacks Stir LNG Supply Concerns in South Korea

Iranian attacks on Qatar's energy facilities have raised uncertainties about LNG supply for South Korea, although alternative sources alleviate immediate concerns. South Korea's Ministry is monitoring trends, while KOGAS confirms sufficient reserves. Increased coal and nuclear output are prioritised to manage potential disruptions.

South Korean officials have downplayed potential disruptions to their liquefied natural gas (LNG) supply following Iranian attacks on Qatar's energy facilities. Although these attacks have impaired 17% of Qatar's LNG export capacity, South Korea cites alternative sources as mitigating this impact.

As the world's third-largest LNG importer, South Korea's reliance on Qatar is comparatively low, around 14% by 2026, according to their Industry Ministry. South Korea remains watchful of supply dynamics, with Korea Gas Corp (KOGAS) reassuring its reserves exceed necessary mandates.

The government plans to ramp up coal and nuclear energy outputs, lowering dependency on gas-fired power. Ahn Do-geol, a lawmaker from the Democratic Party, noted intentions to remove coal production limits and expedite nuclear reactor maintenance to enhance output capabilities.