Kogas to Invest $9bn by 2025

South Korean state-owned Kogas plans to invest 10 trillion won ($8.9bn) between now and 2025 in various domestic and overseas projects, it said August 17.

The company plans to invest 60% of the total in domestic gas projects, 30% in overseas gas projects, and 10% developing hydrogen-fuelled cars as well as LNG bunkering and LNG-fuelled trucks.

Among the world’s biggest LNG buyers, Kogas further stated that it plans to cut costs by won 6 trillion by 2025 by renegotiating existing contracts, signing new contracts and cooperating with other buyers and form a buyers group in east Asia.

Meanwhile, Kogas in a separate statement issued August 14 said its Incheon LNG terminal - the country's main import facility - regasified 6.4mn mt of LNG during January-June period, up 13.2% year on year. The increase in gas supply was due to increased demand for gas from power generators. The Incheon terminal imports and regasifies about 36% of South Korea’s LNG, according to Kogas which in addition  operates three other terminals at Pyeongtaek, Tongyeong and Samcheok.