7 Nov /13

Innovation Industry – South Korea and Gastech in 2014

Gastech conference South KoreaSouth Korea’s geographical isolation naturally poses many infrastructural challenges. One of the most significant ones, however, is the question of how to ease the import energy sources. South Korea has always been a nation heavily relying on the import of petroleum and natural gas. The country’s energy portfolio is made up of 40% of petroleum products and almost 20% of natural gas. None of these two resources are in a significant volume explored and produced in-country and therefore anchor a sizeable LNG and petroleum import and refinement industry. In fact, South Korea is currently the world’s second largest importer of liquefied natural gas behind Japan. While most of South Korea’s oil comes from the Middle East and Saudi Arabia, Indonesia and Qatar provide the majority of South Korea’s natural gas imports of approximately 1.6 Tcf. Imports are exclusively delivered via tanker ships as there is no existing pipeline connection. As a result, South Korean LNG companies such as Kogas have become major players in the marine transport of liquefied natural gas and the country’s downstream business is booming.

Eventually, it must be in South Korea’s interest to gain access to a major pipeline system. The most obvious choice would be a connection to Gazprom’s system. While discussions between Kogas and Gazprom about the possible extension of the Russian pipeline were held as early as 2008, the current political climate between South and North Korea gives little reason for hope that South Korea will be able to import natural gas via land any time soon. But especially because the country’s natural gas industry has little choice but to pursue marine imports, South Korea has also become one of the most innovative industries enters. It is therefore no surprise that in 2014 the world’s largest LNG exhibition and conference, Gastech, will be held in Seoul. Gastech features 300 exhibitors from all over the world uniting international energy companies, government agencies, service companies, and engineers to represent every aspect of the supply chain.

If you are a company participating in Gastech 2014 and are looking for a translation and interpreting service to perfect your exhibition brochures, provide specialized Korean interpreters, or translate your contracts – contact EVS Translations. We specialize in oil and gas translations and interpreting at industry exhibitions.

You might remember us from Gastech 2012 in London: -> The Language of Energy – Translation Company exhibits at world’s largest exhibition for the gas industry

Don’t hesitate to contact us, it is not too late to book your personal Korean to English interpreter to ensure that your trip to Gastech will be a success:  -> Korean interpreting services.