Korea Mulls Joint Gas Purchase With Japan

South Korea is looking to join hands with several Japanese companies to jointly purchase gas at a lower rate, Korea Times has reported.

“We are putting a top priority on offering gas at acceptable prices to local consumers in the private and public sector,” KOGAS President and CEO Jang Seok-hyo told Korea Times on the sidelines of the World Energy Congress which is going on in Daegu.

The emergence of shale gas in the United States will help ease volatility in the gas spot markets, which is good for big gas buyers in Asia such as Korea, Japan and China, said the head of the state-run gas provider.

His remarks come after experts forecast the energy market will undergo a major shift to an era in which demand for renewable energy resources will grow further on the shale gas boom in the US, the Korean newspaper said.

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