South Korea expects baseline natural gas demand to fall from 45.91 million metric tons in 2026 to 41 million tons in 2038 under a new long-term supply plan announced by the Ministry of Trade, Industry and Resources (MOTIR) on Monday. The projected decline comes from power generation, where demand is forecast to drop from 22.35 million tons to 12.84 million tons, while city gas demand rises from 23.56 million tons to 28.16 million tons.

MOTIR also published a higher planning estimate that places total demand at 47.67 million tons in 2038 after allowing for uncertainty surrounding transmission networks, delays to