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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
LNG
South Korean LNG demand is forecast to be 3% lower on the year at 17.7mn tons this summer as high storage levels limit injection demand, outweighing expected gains in residential and commercial gas demand according to BNEF.
- Gas use from residential and commercial users is expected to rise by 0.6mn tons on the year this summer.
- Gas use for power generation is forecast to fall slightly this summer by 0.1mn tons as South Korean nuclear generation is expected to rise 8% year on year.
- KHNP’s 1.4GW Shinhanul 2 reactor is scheduled to start up in April and the 1.3GW Saeul No 3 reactor is expected to come online in October.
- South Korean LNG storages are set to start the summer above the four-year average, with injections likely to be 1.1mn tons lower than last year’s levels.
- More LNG demand is expected to be covered by contracts compared to last year, reducing spot LNG demand, while two contracts – one with Qatar and one with Oman – are scheduled to expire by the end of this year, totaling 9mtpa.
- The lost contract volumes will be partly offset with new supply deals from Qatar and the US totalling 3.6mtpa from 2025.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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