Korea Gas Corp. CEO Jang Seok-hyoKorea Gas Corp. CEO Jang Seok-hyo hosted a communication session with employees on Monday to explain the pending management issues, the company said on Monday. The move came after the KOGAS labor union launched a strike last week against the company’s plan on debt and employee benefit restructuring. “The most imminent task ahead of the company is to regain the trust of the public back through innovative corporate reform measures,” Jang said. One of keys in the re

Korea Gas Corp., South Korea’s state-run LNG provider, said Friday its unit KOGAS Canada LNG has sold 5 percent of its stake in the multinational joint venture LNG Canada as it tries to reduce its debts as demanded by the government.The stake sales to Shell Canada Energy, a unit of global energy firm Shell, lowered KOGAS Canada LNG’s stake in LNG Canada to 15 percent, the company said in a regulatory filing. The company did not reveal the amount of proceeds from the sale.“My company’s policy is

Omani Ambassador to South Korea Mohamed Salim Alharthy marked 40 years of diplomatic relations between his country and South Korea with government officials, the diplomatic community and participants in town for a global energy conference during a gala dinner in Seoul on Tuesday.The participation of the conference delegates served to underscore just how important billions of dollars in annual gas imports are for the nations’ two-way ties. South Korea has become the world’s second-largest buyer o

Gastech, the world’s premier natural gas conference and exhibition, will kick off today in Korea to showcase the nation’s role in the global gas industry.More than 400 companies representing the natural gas and liquefied natural gas supply chain will attend this year’s 2014 Gastech, which will be held until Thursday at KINTEX, in Ilsan, north of Seoul. The state-run Korea Gas Corp. is the host of the event. Up to 2,000 senior gas industry executives will attend the conference, while the number o

Korea Gas Corp., the nation’s sole liquefied natural gas provider, is expected to help shine the spotlight on Asia’s gas leadership by hosting the 2014 Gastech conference and exhibition.It marks the first time for the world’s largest gathering of energy professionals in the gas industry to meet in East Asia, and will take place at KINTEX, an exhibition facility in Gyeonggi Province, from March 24 to 27.“The arrival of Gastech in Korea means that the global gas industry is paying closer attention

Korea Gas Corp., the nation’s sole liquefied natural gas provider, is expected to help shine the spotlight on Asia’s gas leadership by hosting the 2014 Gastech conference and exhibition.It marks the first time for the world’s largest gathering of energy professionals in the gas industry to meet in East Asia, and will take place at KINTEX, an exhibition facility in Gyeonggi Province from March 24 to 27.“The arrival of Gastech in Korea means that the global gas industry is paying closer attention

Energy experts and leading gas industry professionals are set to gather in Korea to kick off the 2014 Gastech Conference and Exhibition next week.Gastech is one of the largest events in the natural gas industry. It showcases the latest innovations, technologies and developments across the gas value chains.The state-run Korea Gas Corporation, or KOGAS, will host the event for the first time in Northeast Asia from March 24 to March 27 at KINTEX in Goyang City, Gyeonggi Province.More than 380 gas-r

The state-run Korea Gas Corporation, the world’s second largest liquefied natural gas importer after Japan, said it will host the 2014 Gastech Conference and Exhibition between March 24-27 at KINTEX, Gyeonggi Province. The London-based Gastech, one of the world’s largest gatherings in the gas industry, has offered a venue for gas industry leaders and experts to exchange technological information and to build their global networking. It is the first time Gastech will be hosted in Northeast Asia,

   The price of natural gas will be raised an average 5.8 percent from Jan. 1 to reflect a recent hike in import prices, the government said Tuesday.    The price of liquefied natural gas supplied by the Korea Gas Corp. (KOGAS) will be raised by 6.1 percent for the industrial sector, according to the Ministry of Trade, Industry and Energy.    "The rate hike comes as the country urgently needs to secure enough supply to meet growing demands for gas from the suspension of (three) nuclear reactors,

Overseas energy development functions held by state-run energy companies will likely be scaled down or merged in the first half of next year, government sources said Monday.State-run energy firms including Korea National Oil Corp., Korea Gas Corp. and Korea Resources Corp. are expected to go through massive restructuring in their overseas businesses as the government has vowed to reduce the huge debt incurred by public companies, sources said.The Ministry of Finance and Strategy, which is respon

A total of 267 energy ministers, experts and CEOs from about 70 countries will speak during the 2013 World Energy Congress that opened in Daegu on Sunday for a five-day run, according to the Korean 2013 WEC organizing committee.The figure breaks down to 54 energy ministers, 12 heads of international organizations, 103 global company CEOs and 97 experts from NGOs, social organizations and the World Bank.The speakers are scheduled to address various energy-related problems facing the world.“The ca

The state-run Korea Gas Corp., the largest LNG importer in the world, is looking to increase the share of shale gas in its supply of imported natural gas, the company’s head said in a recent press conference.“KOGAS is to import 3.5 million tons of shale gas annually from the United States beginning 2017, but it seems not a bad idea to raise it to 4 million tons or more,” KOGAS CEO Jang Seok-hyo said.With this year’s total gas imports estimated at 40 million tons, the original agreement on 3.5 mi

The state-run Korea Gas Corp., better known as KOGAS, has contributed to the nation’s economic growth and the quality of life of Koreans by importing liquefied natural gas and supplying it to power generation plants, gas-utility companies and city gas companies nationwide since its foundation in 1983. The company has now grown to become the world’s biggest liquefied natural gas buyer, running a nationwide pipeline network spanning over 3,562km reaching end users and power stations around the cou

The state-run Korea Gas Corporation has successfully discovered natural gas reserves that may amount to as much as 150 million tons, measuring 7 trillion cubic feet in an offshore mining lot in northern Mozambique. The 160-meter thick gas layer was found in the Agulha-1 exploration well, which is located 80 kilometers off the northeastern Mozambican coast, in mining area 4, officials said last week.“After starting drilling back in May, we reached 2,492 meters deep when we discovered the massive

Concerns are rising that Korea is downgrading to a minor player in the global energy M&A market as the government has yet to develop a roadmap for the nation’s overseas energy development.According to recent data by the Korea Export-Import Bank, the nation has failed to bear fruit in the global oil and gas M&A markets in the first half of this year. Not only the top two state-run energy giants ― Korea National Oil Corp. and Korea Gas Corp. ― but also leading overseas energy explorers in the priv