Price for Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas in South Korea - 2022

Contents:

1. Price for Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas in South Korea (CIF) - 2022
2. Price for Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas in South Korea (FOB) - 2022
3. Imports of Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas in South Korea
4. Exports of Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas in South Korea

Price for Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas in South Korea (CIF) - 2022

The average import price for petroleum gases and other gaseous hydrocarbons; liquefied, natural gasses stood at $623 per ton in 2022, picking up by 45% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for petroleum gases and other gaseous hydrocarbons; liquefied, natural gasses increased by +58.4% against 2020 indices. Over the period under review, average import prices hit record highs at $775 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Oman ($778 per ton), while the price for Malaysia ($467 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas in South Korea (FOB) - 2022

In 2022, the average export price for petroleum gases and other gaseous hydrocarbons; liquefied, natural gasses amounted to $1,491 per ton, increasing by 87% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 438%. As a result, the export price reached the peak level of $1,640 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($1,552 per ton), while the average price for exports to Singapore stood at $607 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+1.5%), while the prices for the other major destinations experienced a decline.

Imports of Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas in South Korea

In 2022, purchases abroad of petroleum gases and other gaseous hydrocarbons; liquefied, natural gasses was finally on the rise to reach 17M tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a sharp decline.

In value terms, imports of petroleum gases and other gaseous hydrocarbons; liquefied, natural gasses skyrocketed to $10.8B in 2022. Overall, imports, however, faced a abrupt contraction.

Top Suppliers of Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas to South Korea in 2022:

1. Australia (5.2M tons)
2. United States (2.7M tons)
3. Qatar (2.6M tons)
4. Malaysia (2.5M tons)
5. Oman (1.3M tons)
6. Indonesia (0.9M tons)
7. Russia (0.5M tons)

Exports of Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas in South Korea

In 2022, shipments abroad of petroleum gases and other gaseous hydrocarbons; liquefied, natural gasses decreased by -71.2% to 8.9K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 141% against the previous year.

In value terms, exports of petroleum gases and other gaseous hydrocarbons; liquefied, natural gasses contracted sharply to $13M in 2022. Over the period under review, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 211%. As a result, the exports attained the peak of $25M, and then declined dramatically in the following year.

Top Export Markets for Petroleum Gases and Other Gaseous Hydrocarbons; Liquefied, Natural Gas from South Korea in 2022:

1. Spain (8.3K tons)
2. Singapore (0.5K tons)

Source: IndexBox Market Intelligence Platform