KOGAS to Import U.S. LNG from BP Starting in 2025

Source Reuters
Company Korea Gas CorporationBP Plc. 
Tags Oil & Gas Trading, LNG & Gas Storage/Processing
Date September 24, 2019

(Reuters) - South Korea’s state-run Korea Gas Corp (KOGAS) signed an agreement with BP to buy 1.58 million tonnes of U.S. liquefied natural gas (LNG) for 15 years starting 2025, its energy ministry said on Tuesday.

The LNG will be delivered from Freeport LNG terminal or Calcasieu Pass. The deal could be expendable for three years at a seller’s option and is estimated to be worth up to $9.61 billion for 18 years, the ministry said.

The ministry said the deal would strengthen bilateral energy cooperation and help South Korea diversify its LNG import sources.

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