[Sponsored Report] Kogas banks on overseas projects
The state-run corporation is currently leading 26 overseas projects in 13 countries around the world. Ongoing work includes the exploration and development of natural gas, LNG liquefaction facility construction, the operation of gas pipelines and setting up infrastructure such as LNG terminals.
Kogas is continuing its overseas exploration projects in the hope of discovering new energy resources. Three early-stage exploration projects are currently underway in Cyprus, East Timor and Indonesia.
In Cyprus, Kogas has acquired a 20 percent stake in an offshore block and is currently working on a drilling plan after analyzing the prospecting potential for exploration drilling.
In East Timor, Kogas has purchased a 10 percent stake in five offshore blocks from Italian energy company ENI and the Timorese government.
Kogas continued to work with ENI to buy a 15 percent stake in the Crong Mane offshore block in Indonesia.
Kogas is also engaged in securing resources and generating profit by actually drilling for oil and gas.
In Myanmar, Kogas has an 8.5 percent stake in an offshore block that started development in 2009 and began producing natural gas in 2013. After a stabilization period, the facility is now selling to China and Myanmar.
Kogas’ LNG business started in 1996 as a form of equity investment and has grown to become a leading part of the business. The corporation is currently carrying out LNG projects in Mozambique, Canada, Australia, Yemen, Indonesia, Qatar, Oman and Australia.
Kogas is currently operating LNG production facilities in Pyeongtaek in Gyeonggi, Incheon, Tongyeong in South Gyeongsang and Samcheok in Gangwon. It has also been sharing the experience and know-how that it has gained over 30 years in the industry with the rest of the world.
Kogas has bagged a total of $5 billion from civilian joint ventures such as sharing its expertise to build the first overseas LNG terminal and export technology to Mexico’s Manzanillo LNG terminal business, Uzbekistan’s cylinder business and CNG charging stations and Mozambique’s Maputo gas supply business and LNG terminal technology export business.
BY KIM HA-EUN [email@example.com]