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Korea Midland Power Co. Ltd., or Komipo, has inked a $3.4 billion deal with Switzerland's Vitol SA to buy liquefied natural gas for 10 years starting in 2015. Komipo plans to take in 400,000 metric tons of LNG a year from Vitol from 2015 to 2024, the company said in a statement. The company didn't disclose...
Over 50 Korean firms are expected to invest a sum $11.8 billion next year to develop oil and gas resources, the ministry of knowledge economy said on Wednesday. These investments will take place primarily in the overseas territory. Last year, Korean firms invested about $8.8 billion. Korea National...
Daewoo signs deal to develop Israel's Tamar gas field South Korean major Daewoo Shipbuilding & Marine Engineering said Tuesday that it had signed an agreement to develop Israel's Tamar natural gas field with Noble, Delek Group and Isramco Inc. Daewoo expects to produce liquefied natural gas from...
North Korea is likely to receive $100 million per year if it becomes a transit country for Russian gas supplies to South Korea, a Russian official said on Thursday. In August, Russia and North Korea had reached an agreement to draw up a project to build a gas pipeline to South Korea. The pipeline will...
Talk of building a pipeline that would deliver Russian natural gas to South Korea by way of North Korea has been going on for decades.But the project recently gained new momentum when North Korean ruler Kim Jong-il paid Russian President Dmitry Medvedev a visit in Siberia.Footage aired on Russian television...
Russia and North Korea are said to have arrived at a preliminary agreement for the proposed gas pipeline project.Russian President Dimitry Medvedev ordered Gazprom chief Alexei Miller to seriously pursue with North Korea the construction of a 1700-km pipeline from Russia to South Korea through the isolated...
South Korea has announced long-term agreements with Total SA and Royal Dutch Shell to buy gas from LNG projects in Australia valued at worth $84 billion.The deals are equivalent to nearly a fifth of annual gas demand in South Korea, the world's second-largest buyer of LNG after Japan. South Korea imported...
The world’s biggest liquefied natural gas purchaser is buying into a Canadian shale gas play.Korea Gas Corp. is acquiring a five per cent stake of the Cordova Embayment project in northeastern British Columbia from Mitsubishi Corp.KOGAS becomes the latest participant in the Cordova Embayment, which...