KOGAS emerging as global energy firm
The Korea Gas Corp. (KOGAS) has emerged as a global energy firm, carrying out dozens of overseas projects worldwide, the state-run natural gas company said Thursday. According to KOGAS, it is currently operating 24 projects in 13 countries — three natural gas exploration, nine development and production, and eight natural gas liquefaction sites, and four downstream infrastructure projects. In Cyprus, KOGAs acquired a 20 percent stake in an underwater gas reserve, and is currently exploring the area. Also, the company is exploring five deep-sea gas reserves in East Timor and one in Indonesia after purchasing 10 percent and 15 percent stakes in them, respectively. Along with exploration, KOGAS is developing and producing gas from overseas fields in Iraq, Canada, Uzbekistan, Indonesia and Myanmar. Of them, KOGAS started developing the A-1/A-3 fields in waters off northwestern Myanmar in 2009, and succeeded in producing natural gas in July 2013. Currently gas produced there is sold to China and Myanmar. Highlighting KOGAS’s global move is its liquefied natural gas (LNG) business. KOGAS began its first LNG business in 1996 and now it leads other businesses. It is currently producing LNG or is building plants in Mozambique, Canada, Australia, Yemen, Indonesia, Qatar and Oman. Of them, KOGAS is close to signing a deal on building an LNG plant on Canada’s west coast and bringing the products to Korea. In Australia, the company is placing a floating LNG facility on a northwestern sea field with the goal to produce LNG later this year. Along with producing LNG, KOGAS is also exporting its knowhow and technologies in establishing downstream infrastructure, such as storage terminals and distribution pipelines. In Mexico, KOGAS invested money and exported technologies to build the Manzanillo LNG Terminal, which distributes 10 percent of the total gas distribution of the country. In Uzbekistan, KOGAS is focusing on the compressed natural gas (CNG) business, running a CNG station and cylinder projects. “KOGAS will continue its efforts to enhance its capacity as a global energy firm by exporting its world-leading technologies and knowhow in its natural gas businesses, as well as making aggressive bids into various natural gas infrastructure projects in emerging markets,” a KOGAS official said.