S.Korea sees gas demand falling 5 percent by 2029

SouthKoreaexpectsitsdemandfornaturalgastofallby5percentoverthenext15years,asincreaseduseofliquefiednaturalgas(LNG)byhouseholdsandindustryonlypartlyoffsetsasteepfallinitsdemandforpowergeneration.

Theworld'ssecond-largestLNGimporterwillalsoseektodiversifyitssuppliers,andplanstoworkwithotherbigAsianbuyersJapanandChinatoco-operateoversupplies,theMinistryofTrade,IndustryandEnergysaidonMonday.

Still,SouthKoreawillinvest7.1trillionKoreanwon($6.1billion)toexpanddomesticgassupplyfacilitiesincludingpipelinesandstoragetanksthrough2029,theministrysaidinastatement.

LNGaccountedforabout21.4percentofSouthKorea'spowergenerationin2014.