January 12, 2011

Kogas to Order LNG Carriers

Korea Gas Corporation (Kogas) is planning to order four or five LNG ships. The vessels will be used to transport 160,000-170,000m3 of LNG from Australia's Gladstone LNG (GLNG) project. In 2010 Kogas acquired a 15% stake in the GLNG project. The South Korean comp

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Korea Gas Corporation (Kogas) is planning to order four or five LNG ships.

The vessels will be used to transport 160,000-170,000m³ of LNG from Australia’s Gladstone LNG (GLNG) project.

In 2010 Kogas acquired a 15% stake in the GLNG project.

The South Korean company joined the project with a condition of purchasing 3.5m tons of LNG a year from GLNG for a maximum of 20 years, starting from 2015.

The newbuild order is Kogas’s first order since 2005, according to asiasis.com.