Korea Gas Corp in for 10 pc of Gladstone from Santos

IRJ Aug 27 - The Korea Gas Corporation (“Kogas”) is set to purchase 10 per cent of an LNG project being built by Santos Ltd, of Australia. The project, the Gladstone LNG terminal project, in Australia, is worth around US$13 billion and marks another great move by Kogas —already the world’s first for LNG importation.

The current ownership at Gladstone is divided between Santos (60 per cent) and Petronas (40 per cent). Santos has said it wishes to sell 15 per cent of its stake. It is a high profile project, and one of four Australian endeavours looking at turning coal seam gas into exportable LNG.