Korea Gas Corp. (KOGAS) has signed a business agreement with Matrix Service Co. of the United States to develop a large liquid hydrogen storage tank and cargo hold.About 10 officials from both companies, including KOGAS president Chae Hee-bong and Matrix president John Hewitt, attended a signing cer
Korea Gas Corp. (KOGAS) announced on June 15 that it signed an LNG trading business agreement with TotalEnergies, a global energy company headquartered in France, to lay the foundation for long-term strategic cooperation.The signing ceremony was held in Singapore, where TotalEnergies Gas and Power A
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. Since the outbreak of the Russia-Ukraine war, coal-fired power generation has upped in Europe. Europe’s coal power generation is likely to stay high for now i
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. Upgrade to BUY; raise target price by 28.9% to KRW58,000 We revise up our TP by 28.9% (KRW45,000→KRW58,000). We raise 2022E-24E OP by an avg. of 20.7% (2022E/2023E are 3.5%/3.6% above consensus) given high
Korea Gas Corp. (KOGAS) announced on May 24 that it has signed a business agreement with CB&I Storage Solutions of the United States to develop liquid hydrogen storage facility technology.The two companies agreed to cooperate closely in various fields, including the expansion of liquid hydrogen onsh
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. KOGAS’s OP should strengthen further, assuming that the current oil price level sustains. The company’s accounts receivable currently stands at around W5tn, but we do not see this as being an iss
Korea Gas Corp. (KOGAS) has signed a long-term U.S. LNG sale and purchase agreement (LNG SPA) with BP p.l.c, a comprehensive energy company.KOGAS will import 1.58 million tons of Henry Hub-linked LNG per year for up to 18 years from 2025.A signing ceremony was held at BP headquarters in London on Ap
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. KOGAS owns two natural gas fields capable of producing more than 10mn tons of gas pa. Its after-tax guaranteed returns are expected to increase in 2022 in line with a higher rate base. Accrued ac
Korea Gas Corp. (KOGAS) announced that it has signed an MOU with Sempra Infrastructure, an energy infrastructure company in the United States, to strengthen cooperation in North American energy infrastructure projects.A signing ceremony was held in Houston, Texas on April 1 (local time), in the pres
Korea Gas Corp. (KOGAS) announced on March 16 that it has chartered the LNG bunkering ship K. Lotus from Hyundai Mipo Dockyard and rented it to Shell, a global energy giant.An LNG bunkering ship supplies fuel at sea for LNG-powered ships. KOGAS and SM Korea Line won a bunkering ship charter contract
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed 4Q21P OP of KRW413.0bn (+58.7% YoY) exceeds market consensus — KOGAS reported 4Q21P consolidated revenue of KRW9.6tn (+78.3% YoY, +78.6% QoQ), OP of KRW413.0bn (+58.7% YoY, +5,191.6% QoQ) and NP (attributab
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. A rise in power generation fuel prices in the winter should strengthen the value of KOGAS’s overseas E&P projects. Also, given the electricity rate scheme, further profit growth is likely at its
Korea Gas Corp. (Kogas) announced on Dec. 29 that it plans to establish a hydrogen platform that encompasses hydrogen production bases, hydrogen charging stations, and overseas hydrogen production facilities. As a first step toward realizing the plan, it broke ground for the construction of a hydrog
South Korea is dominating the global floating liquefied natural gas (FLNG) facility market. A FLNG facility is a floating production storage and offloading (FPSO) unit that can purify, liquefy, and store natural gas extracted from the sea.The Korean Ministry of Trade, Industry and Energy said on Nov
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed Maintain HOLD; Raise TP 18.4% to KRW45,000 We maintain HOLD on KOGAS, but raise our TP by 18.4% to KRW45,000. We have revised up 2021E-2023E OP by an average of 3.9% to reflect steep increases in internatio
Korea Gas Corp. (KOGAS) is aspiring to transform itself from a natural gas supplier to a hydrogen platform operator. The state-run corporation disclosed its new vision in a ceremony in Daegu on Sept. 27. KOGAS president Chae Hee-bong said the company will attain three trillion won in operating profi
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. e expect SMP and overseas natural gas mine values to rise in 2H21 in response to a surge in Northeast Asian natural gas prices. KOGAS should continue to see v
Korea Gas Corp. (KOGAS) announced on Sept. 16 that it has signed a memorandum of understanding (MOU) with the Global Green Growth Institute (GGGI) for cooperation in green hydrogen business development in promising countries, including Indonesia.On hand at the event at GGGI Headquarters in Seoul wer
Korea Gas Corp. (KOGAS) announced on Sept. 14 that it has signed an agreement with Siemens Energy of Germany to promote stable hydrogen businesses such as green hydrogen production and hydrogen power generation.On hand at the signing ceremony at the Four Seasons Hotel in Seoul were about 10 official
A consortium led by Korea Gas Corp. (KOGAS) and Hanwha Energy is highly likely to win a Vietnamese LNG power plant construction project worth 5.5 trillion won.The consortium, which also includes Korea Southern Power and Vietnam's T&T Group, was the only participant to submit a bid proposal for t