Korea Gas Corp to Import 700,000 Tonnes Annually From LNG Canada

Source Reuters
Company Korea Gas CorporationMitsubishi CorporationPetroChinaPetronasRoyal Dutch Shell 
Tags Oil & Gas Trading, LNG & Gas Storage/Processing
Date October 12, 2018

(Reuters) South Korea's state-run Korea Gas Corporation (Kogas) will import 700,000 tonnes per year of LNG from the LNG Canada project, led by  Royal Dutch Shell plc, from around 2024 over 40 years, its vice-president said on Friday.

"We will import 700,000 tonnes annually from around 2024 for 40 years and the volume is based on our share of the project," Lim Jong-kook, vice-president of KOGAS, told Reuters on the sidelines of a forum in Seoul.

KOGAS, which holds a 5% share of the project, said last week it would invest 749.86 billion won (US$660.06 million) in the project.

Lim added the deal has destination flexibility and would allow Kogas to sell excess volumes to third parties as the company is one of the partners of the project.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd