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    Gazprom, Kogas Discuss LNG

Summary

The two companies met during the 4th Eastern Economic Forum that took place in Vladivostok.

by: Shardul Sharma

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Natural Gas News, Asia/Oceania, Security of Supply, Corporate, Import/Export, Infrastructure, LNG, News By Country, Russia, South Korea

Gazprom, Kogas Discuss LNG

During the 4th Eastern Economic Forum that took place in Vladivostok, Gazprom and Kogas discussed energy cooperation, especially supply of Russian LNG to South Korea, Gazprom said September 12.

The two parties considered the prospects of increasing Russian LNG exports to South Korea in the long term. In 2017, Sakhalin Energy Investment Company had supplied South Korea with 1.9mn mt of LNG. During the first half of 2018, the supplies have amounted to 1.2mn mt, Gazprom said. In 2005, Sakhalin Energy Investment Company and Kogas signed the contract for the supply of 1.5mn mt/yr of LNG from the Sakhalin 2 project.

During the meeting between Alexey Miller, Gazprom chairman and Seung-Il Cheong, Kogas CEO, it was emphasised that the companies intended to continue the scientific and technical dialogue on LNG transportation, storage and utilisation, pipeline gas technologies, as well as hydrocarbon exploration and production.

In 2016, Gazprom and Kogas inked an agreement of cooperation which envisages a broader cooperation in the field of LNG supplies and implementation of joint projects in LNG production, transportation and regasification and in gas-fired power generation. In addition, the agreement outlines the key avenues of cooperation, including in research and development, energy efficiency, environmental protection, and the natural gas vehicle sector.