Russian state-owned energy giant Gazprom on Friday signed a cooperation agreement with South Korea’s Kogas, the world’s largest corporate buyer of LNG.
The deal, signed by Gazprom’s head Alexey Miller and CEO of Kogas Lee Seung-hun, “envisages a broader cooperation between Gazprom and Kogas in the field of LNG supplies from the Russian Federation to South Korea,” Gazprom said in a statement.
The agreement also reflects the intention of the two companies to implement joint projects for the production, transportation and re-gasification of LNG and gas-fired power generation projects.
In addition, the document identifies other areas of cooperation such as research and development, energy efficiency, environmental protection, and the NGV sector, the statement reads.