Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 25 February 2011, 16:27 HKT/SGT
Share:
    

Source: Mitsubishi Corporation
Mitsubishi Corp Signs MOU with Korea Gas Corporation in Natural Gas Business

TOKYO, Feb 25, 2011 - (ACN Newswire) - Mitsubishi Corporation (MC) and Korea Gas Corporation (KOGAS) today signed a Memorandum of Understanding (MOU) for strategic collaboration in their natural gas businesses, mainly for liquefied natural gas (LNG) projects under the presence of the CEOs of both companies.

MC and KOGAS have established a long-standing good relationship through LNG projects MC has invested. This has been enhanced through MC's coordination of LNG swap transactions between KOGAS and Japanese utilities, which have efficiently leveraged the seasonal differences in supply and demand, and through joint participation in the Dongg-Senoro LNG Project which its final investment decision was made last January.

This MOU will further enhance and expand the companies' relationship by facilitating joint studies on strategic developments of LNG project and unconventional natural gas projects in various areas such as Canada and Australia where both companies are looking into such projects at present.

The MOU will also help optimize KOGAS's procurement of LNG, and give both companies more opportunities to take part in downstream businesses in other countries. In addition, MC and KOGAS have agreed that MC will look into financing to cover both companies' involvement in these projects. The partners will also exchange trainees to help their people gain knowledge and experience.

In response to growing interest in clean energy and the rise of emerging economies, the demand for natural gas is expected to increase in the future. From a geopolitical perspective, it is important that Korea and Japan work together to secure energy resources within eastern Asia.

Along with a road map in this MOU, MC and KOGAS are committed to strengthening bilateral efforts in energy security. Working with KOGAS, the world's biggest LNG importer, MC aims to materialize new energy projects that will help secure a stable supply of energy in the future.

Korea Gas Corporation

Founded: August, 1983
Headquarters: Seongnam City, South Korea
President & CEO: Kangsoo Choo
Workforce: 2,890 (as of January, 2011)
Sales: 19.4 trillion won (FY 2009)
LNG procurement volume: 31.8 million tones (FY 2010)


Contact:
Corporate Communications Dept.
Mitsubishi Corporation
Tel: +81-3-3210-2172


Topic: Business Tieup
Source: Mitsubishi Corporation

Sectors: Energy, Alternatives
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Corporation Links

http://www.mitsubishicorp.com

https://www.linkedin.com/company/mitsubishi-corporation/

Mitsubishi Corporation
Apr 11, 2025 09:39 HKT/SGT
Mitsubishi Corporation makes DennoKotsu an equity-method affiliate company, strengthening efforts to address regional transportation challenges
Apr 9, 2025 17:22 HKT/SGT
Mitsubishi Corporation to Participate in Demonstration Project for New Hydrogen-Based Ironmaking
Apr 4, 2025 08:04 HKT/SGT
Mitsubishi Corporation Announces Corporate Strategy 2027
Apr 1, 2025 13:16 HKT/SGT
Mitsubishi Corporation: Development of R&D Hub "iPark Kobe" in Kobe Medical Industry City
Mar 28, 2025 15:29 HKT/SGT
Mitsubishi Corporation, ADM Sign Non-Binding MOU, Form Strategic Alliance
Mar 26, 2025 13:31 HKT/SGT
Start of Joint Study on Integrated Power and Data Center Business in Ohgishima area in Keihin District
Mar 13, 2025 12:26 HKT/SGT
Hokkaido Electric Power Corporation and Mitsubishi Corporation Establish a Joint Venture "Hokkaido Renewable Energy Aggregation Co., Ltd."
Feb 24, 2025 11:30 HKT/SGT
Mitsubishi and ENEOS to conduct Front End Engineering Design for Sustainable Aviation Fuel (SAF) Production at the Wakayama Refinery
Feb 21, 2025 14:01 HKT/SGT
Mitsubishi Logistics Corporation, Mitsubishi Corporation, and Yourstand Inc. Advancing Completely CO2-Free Electrification of Pharmaceutical Transportation
Feb 17, 2025 13:10 HKT/SGT
Launch of Joint Demonstration Experiment of Remote Provision of GPU Computing Power
More news >>
 News Alerts
Copyright © 2025 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: