KOGAS May Sell Canada LNG Stake

KOGAS of  South Korea, world’s largest corporate buyer of LNG, said that it may sell 5 to 10 percent of the company’s 20 percent stake in the Canada LNG project.

“Concrete progress over the sales consideration will be made early next year,” Reuters cited the company’s CEO Jang Seok-hyo as saying.

LNG Canada is a joint venture comprised of Shell Canada, KOGAS, Mitsubishi Corporation and PetroChina that is proposing to build and operate a liquefied natural gas export terminal in Kitimat, British Columbia.

The project will be constructed in phases, with the first phase having a design capacity of 12 mtpa of LNG, with an option to expand the project in the future to approximately 24 mtpa.

[mappress]

LNG World News Staff, October 16, 2013; Image: Canada