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LNG: S Korea to Cut LNG Share in Power Mix: Platts

LNG
Energy BulletsBulletSouth KoreaPower BulletsAPACCommodities

South Korea plans to reduce LNG's share in its power mix from 28% to 10.6% by 2038, while increasing nuclear and renewable energy sources to cut carbon emissions and lower power production costs, Platts said.

  • Nuclear power will rise to 35.2% by 2038, with two new reactors and the first small modular reactor (SMR) planned.
  • Renewable energy, including solar, wind, hydrogen, and ammonia, will grow to 39.2% by 2038. The plan includes converting 12 aging coal plants to hydrogen or ammonia-based generators.
  • The goal is to achieve carbon neutrality and enhance energy security by reducing reliance on fossil fuels.
  • Power demand is expected to grow 1.8% annually, reaching 129.3 GW by 2038, with production capacity increasing to 157.8 GW.
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South Korea plans to reduce LNG's share in its power mix from 28% to 10.6% by 2038, while increasing nuclear and renewable energy sources to cut carbon emissions and lower power production costs, Platts said.

  • Nuclear power will rise to 35.2% by 2038, with two new reactors and the first small modular reactor (SMR) planned.
  • Renewable energy, including solar, wind, hydrogen, and ammonia, will grow to 39.2% by 2038. The plan includes converting 12 aging coal plants to hydrogen or ammonia-based generators.
  • The goal is to achieve carbon neutrality and enhance energy security by reducing reliance on fossil fuels.
  • Power demand is expected to grow 1.8% annually, reaching 129.3 GW by 2038, with production capacity increasing to 157.8 GW.