SK: Lauded Energy Achievement is Actually a Disaster

The news that China is about to buy all the natural gas from Burma’s offshore wells clearly shows how helpless Korea is against Asia’s super-power. Energy experts have criticized the government for failing to take necessary measures and instead bragging about its dubious energy achievement. In a nutshell, Korea has failed in its energy diplomacy.

The reason the government is working so hard to attain the gas rights is because of Korea’s chronic gas shortage. Korea has been short by 2 million tons of gas a year since 2005. In the winter of 2005, it saw its gas reserves twice drop below the minimum amount required. “We don’t have any signed long-term contracts to import gas after 2012,” a government official said. “The gas wells in Burma could be the most reliable energy source for the country.”
Chosun Ilbo