Canada has the resources to provide affordable, reliable energy for both Canadians and global partners. In a recent conversation, ESF Chair Shannon Joseph spoke with His Excellency, Ambassador Woongsoon Lim of the Republic of Korea, about Korea’s growing interest in Canadian LNG and its role in delivering both energy and security.
Why is Korea looking to Canada?
Korea is working to reduce emissions from coal and diversify its energy supplies, especially as global uncertainties reshape markets. With a strong relationship between the two countries, and a secure, reliable supply of natural gas, Canadian LNG is an ideal fit. The energy supply disruption that followed Russia’s invasion of Ukraine in 2022 reinforced the importance of diverse and stable energy partnerships. Korea sees Canada as such a partner.
In addition to Korea, other nations are taking a hard look at Canada’s LNG potential as they seek to ensure energy availability and affordability in moments of crisis and in pursuing prosperity. LNG’s flexibility and transportability make it an essential element in the toolbox of energy solutions.
The global energy reality
The demand for natural gas extends far beyond Korea. In 2024:
- Global energy demand grew by 2.2%, with natural gas demand growth leading at 2.7%.
- China’s natural gas demand rose by over 7%, driven by industrial growth and extreme heat.
- India’s natural gas demand surged by 10% due to expanding infrastructure and the need for flexible power generation.
- The United States increased its natural gas consumption by 2%, with gas-fired power generation rising to 43% of total electricity output.
- Even the European Union saw an uptick in natural gas use, particularly in industrial sectors.
This surge is driven by the need for stable, lower-emission energy sources. In 2024, electricity consumption surged by nearly 1,100 terawatt-hours – the largest increase outside of economic recovery years. As extreme weather waves, industrial expansion, and digitalization push demand higher, natural gas remains essential.
With abundant resources and a commitment to responsible energy development, Canada is well-positioned to meet this rising global demand. Strengthening partnerships – like those with Korea – ensures that Canadian LNG plays a vital role in stabilizing energy markets and keeping energy reliable and affordable worldwide.
References:
- International Energy Agency (IEA). (2025). Global Energy Review 2025. Retrieved from https://www.iea.org/reports/global-energy-review-2025.
- Bryce, R. (2025, March 24). Coal, Coal Baby: Soaring coal use in China and India is swamping the West’s decarbonization efforts. Here’s a climate policy reality check in nine charts. Retrieved from https://robertbryce.substack.com/p/coal-coal-baby?utm_campaign=email-post&r=4j3xpp&utm_source=substack&utm_medium=email
