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KOREA GAS SET TO SIGN GAS DEAL WITH AUSTRALIA'S NTH WEST SHELF.
AsiaPulse News, January, 2003
MELBOURNE, Jan 17 Asia Pulse - The Korea Gas Corp (KOGAS) (KSE:36460) expects to sign a deal for the purchase of 500,000 tonnes of gas a year from Australia's North West Shelf (NWS) project.
KOGAS president Kim Myung-Kyu is in Australia negotiating a proposed seven year contract.
A KOGAS spokesman said letters of intent were being drawn up outlining an initial contract to purchase 500,000 tonnes of gas a year.
NWS joint venture partner and operator Woodside Petroleum Ltd (ASX:WPL) said discussions were being held, but refused to say how close the deal was to being sealed.
"Korea is a significant potential market for us so it would be no surprise we're talking to them, but as to the detail, we're staying mum," he said.
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