Engaged in 25 Overseas Gas Projects
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 piping, and LNG terminal construction and operation.
Among KOGAS’ overseas projects, the Mozambique District 4 gas field project stands out. It is regarded as one of the most successful cases of gas field exploration undertaken by Korean companies. In 2007, KOGAS acquired a 10 percent stake in the project and discovered a large-scale gas field in the district. At the end of 2018, KOGAS secured natural gas that amounted to about its sales volume for three years. KOGAS expects an economic inducement effect of up to US$5 billion as it will team up with Korean builders and financial and insurance companies to develop the gas field.
KOGAS is also actively winning overseas LNG terminal projects based on its 35 years of know-how in the field of LNG terminals. Among its LNG terminal projects, the Manzanillo LNG Terminal Project in Mexico is notable. The corporation is participating in this project with a 25 percent stake. It is the first overseas gas facility that KOGAS will build, own and operate.