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South Korea imports most of its energy demand

EIA:  “South Korea relies on imports to meet about 97% of its total primary energy consumption as a result of insufficient domestic resources. The country is one of the world’s leading energy importers.”

South Korea was the world’s ninth-largest energy consumer in 2014, according to estimates from the BP Statistical Review of World Energy 2015. Korea is one of the top energy importers in the world and relies on fuel imports for about 97% of its primary energy consumption because the country lacks domestic energy reserves. South Korea ranks among the world’s top five importers of liquefied natural gas, coal, crude oil, and refined products. South Korea has no international oil or natural gas pipelines and relies exclusively on tanker shipments of LNG and crude oil. Despite its lack of domestic energy resources, South Korea is home to some of the largest and most advanced oil refineries in the world. In an effort to improve the nation’s energy security, oil and natural gas companies are aggressively seeking overseas exploration and production opportunities.”

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