Wodside, Kogas extend LNG cooperation

Australian LNG player Woodside and Korea Gas Corporation (Kogas) have on Monday agreed to extend the partnership signed in 2011. 

According to the new memorandum of understanding, the two companies plan to advance the cooperation in a number of areas, including developing future business arrangements, knowledge sharing, staff secondments, joint technology studies and workshops.

Woodside CEO Peter Coleman said in a statement that the Kogas capabilities and technological innovations in the LNG sector complement Woodside’s business.

Woodside currently supplies liquefied natural gas to Kogas from its Pluto LNG project on Burrup Peninsula about 190 kilometres off Karratha, in Western Australia.

The facility has the capacity to produce 4.3 million tons of LNG per year, and Woodside and Kogas signed a sales and purchase agreement in February 2014 for the supply of up to 2.2 million tons of LNG over a three-year period that started in April 2014.

LNG World News Staff