Kogas, Posco Daewoo ink cooperation deal

South Korea’s Kogas, the world’s second-largest corporate LNG buyer, on Monday signed a cooperation agreement with Posco Daewoo Corp.

Under the memorandum of understanding, the two companies will form a joint committee which will explore new businesses overseas and develop technological capacities.

State-owned Kogas noted in a statement that the duo already worked together before in the Oman LNG project in 1997 and A1 and A3 gas field project in Myanmar in 2001.

“We will do our best to ensure that the cooperation between the two companies through this agreement will lead to substantial achievements in the resource development market,” said Kogas Chief Executive Lee Seung-hoon.

LNG World New Staff