Korean gas company Kogas has selected Royal Dutch/Shell, through two of its joint venture projects, to supply up to four million tonnes of liquefied natural gas annually to South Korea over 20 years beginning in 2008.
Kogas is believed to be the world’s largest buyer of liquefied natural gas (LNG) while South Korea is the second largest LNG market in the world.
The selection of two Shell joint ventures in such an important tender underlines Shell’s global LNG leadership, commented Peter de Wit, president of Shell Gas & Power Asia Pacific. It also reflects the strengthening of the Asia Pacific market reflecting an overall increase in global demand for LNG and the value of our diverse portfolio of LNG projects.
Shell descibed the Asia Pacific market as the largest LNG market globally with some 84 mtpa of demand today and a predicted 180 mtpa of demand in 2020.