S. Korea Is Iran New Natural Gas Client
SEOUL (Dispatches) - State-run Korea Gas Corp (KOGAS), the world’s second-largest single buyer of liquefied natural gas (LNG), says it plans to import natural gas from Iran as well as explore opportunities to acquire gas field stakes in the country.
A KOGAS official said the company was looking to diversify its import sources as supply contracts with Qatar and Oman were set to expire by 2015.
“Iran is rich in natural gas so we would like to work closely with both public and private energy companies there,” the official was quoted by Korea Times as saying.
In May 2016, Iran awarded a deal to carry out technical studies on the offshore Balal gas field in the Persian Gulf to KOGAS.
An Iranian official said in June this year that the country was working on a plan to develop small-size gas liquefaction units with South Korean companies, including KOGAS.