Energy Cooperation
During the Korea-Iran summit held in Tehran, Iran, for three days from May 1, the Korea Gas Corporation (KOGAS) signed a memorandum of understanding (MOU) with the National Iranian Oil Company (NIOC), the National Iranian Gas Company (NIGC) and the National Iranian Gas Export Company (NIGEC) for comprehensive and strategic cooperation in the natural gas industry sector.
The NIOC and the NIGEC are in charge of oil and gas exploration in Iran, LNG liquefaction plant development and production and export, while the NIGC is engaged in gas pipe construction in Iran, operation and gas sales.
Specifically, the KOGAS, the NIOC and the NIGEC will jointly consider developing new gas fields, onshore liquefaction plants and offshore FLNG terminals in Iran and constructing gas pipes. They will also establish a close partnership with the cooperation in global marketing for produced LNG.
With the latest MOU, particularly, the KOGAS plans to intensively review the Iran-Oman offshore gas pipe construction project, which will be placed an order in the near future, and make an effort to obtain tangible results.