Hanwha Solutions said on Dec. 3 that it has signed a memorandum of understanding with Gangwon Province and KOGAS-Tech to increase the competitiveness of the hydrogen industry ecosystem in Gangwon Province.The agreement calls for the establishment of a water electrolysis facility and hydrogen chargin
Korea Gas Corp. (KOGAS) has succeeded in transferring LNG between LNG carriers in the middle of the sea. KOGAS has become the first company in the world to conduct LNG bunkering at sea using a ship to ship (STS) method.KOGAS said on Nov. 26 that it has completed an "STS LNG shipment test" for trial
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Hydrogen is expected to become a key energy source along with natural gas in the mid/long term. Valuation re-rating is possible for KOGAS, considering new business expectations and the low possib
Korean steelmakers have begun to produce hydrogen and hydrogen vehicle parts in line with Hyundai Motor Group’s expansion of its hydrogen vehicle production capacity.Hyundai Steel has joined hands with Hyundai Motor Co., KOGAS, Hyundai Glovis and SPG to expand its hydrogen production capacity from 3
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Following the recognition of large-scale impairment losses in 2Q20, the chances of further massive one-off expenses look low for 3Q20. With KOGAS designated as an exclusive distributor of hydroge
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com, ys.jung@njqv.com and midas.sohn@nhqv.com, respectively. – Ed. Having been selected as an exclusive hydrogen distributor by the government in July, KOGAS is expected to construct related distribution/t
Korea Gas Corp. (KOGAS) recently reported to the Ministry of Trade, Industry and Energy that it was mulling over investing in overseas assets. According to KOGAS, the total output of its overseas business in 2040 is estimated to fall 35 percent from the current level of four million tons without new
Korea Gas Corp. (KOGAS) and Hyundai Motor Group have joined hands to build integrated hydrogen charging stations that can also serve as a hydrogen production facility.They signed a business agreement at a hotel in Seoul on July 14 to cooperate in enhancing competitiveness in the hydrogen business an
To boost the hydrogen industry, the Korean government has decided to nurture 1,000 companies specializing in hydrogen by 2040. The government will also seek to boost the number of hydrogen cars to 850,000 and that of hydrogen chargers to 660 units within the next 10 years.These plans were approved a
Korea Gas Corp. (KOGAS) is accelerating the expansion of its overseas natural gas business.The company is currently involved in 25 projects in 13 countries around the world. Its main business areas include natural gas exploration, development and production, LNG liquefaction, overseas city gas pipin
KB Kookmin Bank announced on May 12 that it has completed a financial agreement to extend a 240 million Canadian dollar senior loan to finance the construction of natural gas pipelines in Canada.The loan is part of 8 billion Canadian dollar project financing for 667-km Coastal Gaslink Pipeline in Br
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. KOGAS holds an estimated (as of end-4Q19) W1.2tn worth of assets that are exposed to possible impairment losses. But, even after deducting the total value of these assets, we view KOGAS’s current
Korea Gas Corp. (KOGAS) announced on Dec. 18 that it received 93.3 billion won in dividends from KOGAS Iraq B.V, a KOGAS subsidiary established to carry out Iraq's Zubair Crude Oil Project, on Dec. 17.The Zubair project achieved daily oil production of 500,000 barrels, the goal for the first pha
Korea Gas Corp. (KOGAS) held a working group meeting with Gazprom, the world's largest energy company based in Russia, at Oakwood Hotel, Incheon on Oct. 22.About 60 officials from the two companies attended the event, including Choi Yang-mi, head of the Technology Business Division at KOGAS and
Korea Gas Corp. (KOGAS) will annually import 1.58 million tons of LNG from the United States for up to 18 years starting from 2025. The total import bill amounts to about US$10 billion.On Sept. 23 (local time), Chae Hee-bong, president of KOGAS signed a long-term U.S. LNG purchase agreement with Rob
Korea Gas Corp. (KOGAS) will expand cooperation with Russian energy companies in the natural gas sector.The company held discussions on cooperation with major Russian energy companies at the 5th Eastern Economic Forum (EEF) held in Vladivostok, Russia for four days from Sept. 3 (local time), KOGAS s
KOGAS announced on Sep. 5 that its subsidiary KOGAS Iraq B.V. has achieved 500,000 barrels in daily oil production from the Jubair field in Iraq.The market value of 500,000 barrels of oil per day is about 34.8 billion won. KOGAS has successfully reached the first-stage goal in oil production at the
The new CEO of Korea Gas Corp. (KOGAS) has stressed the need to invest in overseas gas development projects to lower the cost of purchasing natural gas overseas.Chae Hee-bong, who was appointed to lead KOGAS earlier this month, outlined his management strategy in his inaugural address.He said he wou
Korea Gas Corp. (KOGAS) announced on July 10 that it has successfully issued sustainable bonds worth US$500 million.This marked the first time that KOGAS issued sustainable bonds. KOGAS became the first state-run corporations to issue 10-year environmental, social and governance (ESG) bonds. ESG bon
Korea Gas Corp. (KOGAS) announced on June 17 that the company has signed an energy research and technology development agreement with ExxonMobil, a U.S. energy company. The two companies concluded the agreement on the occasion of the G20 Environment and Energy Ministerial Meeting held in Karuizawa,