Sunday, July 21, 2019
SK Corp. to Invest US$150 Million in U.S. Natural Gas Company
Strengthening Energy Business in N. America
SK Corp. to Invest US$150 Million in U.S. Natural Gas Company
  • By Jung Min-hee
  • March 29, 2019, 09:05
Share articles

SK Corp. will invest US$150 million in Blue Racer Midstream, a U.S. natural gas gathering and processing (G&P) company.

SK Corp. announced on March 28 that it would invest US$150 million in Blue Racer Midstream, a U.S. natural gas gathering and processing (G&P) company.


The investment is in line with the company’s strategy to strengthen its energy business in the North American market, which is growing rapidly on the back of shale energy. The investment will allow SK Corp. to participate in management. The G&P business involves gathering of gas from a gas field through pipelines and processing it for sales to consumers.

SK Corp. made this investment jointly with First Reserve, a private fund specializing in energy which selected SK as a strategic investor. Mirae Asset Daewoo Securities and Samsung Securities also decided to invest an additional US$150 million through a fund established by Stick Alternative.

Founded in 2012, Blue Racer Midstream is a leading G&P company in Marcellus-Utica Basin, the largest natural gas production area in the United States. The basin straddles the border between Ohio and West Virginia. The company has a 1,100-km-long pipeline and a facility capable of processing 7.3 million tons of natural gas per year.