Kogas Inks US LNG MoU

Kogas June 29 signed a memorandum of understanding with ExxonMobil and Energy Transfer relating to cooperation in US LNG projects and other related gas infrastructure businesses, the South Korean state firm said in a statement.

With this MoU, South Korea will be able to find opportunities to enter into joint ventures in order to stabilise domestic supply and demand through diversification of LNG supply lines and construction and operation of infrastructure such as liquefaction plant, Kogas stated.

Kogas president Lee Seung-hoon said energy cooperation with the US, which is having a profound impact on global natural gas market, can be a good opportunity for South Korea in the face of growing interest in reducing nuclear power and coal power generation.

Kogas is one of the world’s biggest LNG importers. The company June 26 said the first US LNG cargo under long term contract with Cheniere will arrive at its Tongyeong LNG terminal early next month.

Exxon and Qatar Petroleum are thought close to taking a final investment decision on redevelopment of their Golden Pass facility on the Texas coast into an LNG export complex, following recent approvals. Likewise, Energy Transfer is planning to convert the Lake Charles import terminal, Louisiana, into an LNG export plant

Shardul Sharma