한국가스공사, 미츠비시 상사, 전략적 제휴

한국가스공사와 미츠비시 상사와의 전략적제휴 관계가 더 깊어지고 있다.

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UPDATE: Mitsubishi Corp, Kogas In Pact In Natural Gas Business

Nikkei English News
25 February 2011

[What follows is the full text of the news story.]


(Adds Mitsubishi spokesman comments, background)

TOKYO (Dow Jones)--Japanese trading company Mitsubishi Corp. (8058.TO) said Friday that earlier in the day it had signed a memorandum of understanding with state-owned Korea Gas Corp. (036460.SE) to cooperate in the natural gas business.

By joining forces with Kogas, the world largest LNG buyer company by volume, Mitsubishi Corp. expects a boost in its bargaining power, a Mitsubishi spokesman said. Kogas buys more than 30 million metric tons a year of liquefied natural gas.

The two companies had signed an MoU in 2009 to jointly study deals and procurement of gas, especially LNG.

The new MoU, which replaces the old one, will cover a much wider scope of cooperation including LNG projects, development of unconventional gas, investment in LNG receiving terminals and financing, the spokesman said.

Mitsubishi has been accelerating investment in LNG businesses from upstream to downstream in recent years. The company now has stakes equivalent to about 7 million tons a year of LNG.

In late January, Mitsubishi and partners made the final investment decision to proceed with the $2.8 billion Donggi-Senoro LNG project in Indonesia, and Kogas committed itself to an intake of 700,000 tons a year and took a 15% stake in the project.

-By Mari Iwata, Dow Jones Newswires; 813-6269-2798; mari.iwata@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=Ohs3YdzY4uapUTj5RI6NUw%3D%3D. You can use this link on the day this article is published and the following day.

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