(EnergyAsia, April 19 2012, Thursday) — Norway’s DNV and state-owned Korea Gas Corporation (KOGAS) have signed a memorandum of understanding (MOU) to jointly undertake research and development in the liquefied natural gas (LNG) sector.
The companies will jointly organise conferences and cooperate on R&D projects focusing on the entire LNG value chain from gas reservoir exploration, natural gas production, liquefaction, transportation, storage, regasification and supply.
“Based on our expertise in the LNG industry, we anticipate helping KOGAS to acquire innovative technology and strengthen its position in the global market,” said Jon Rysst, DNV’s regional manager for South Korea and Japan.
As the country’s sole LNG provider, KOGAS is expanding its investment in foreign resource projects and acquiring non-conventional resources such as shale gas. It is also focusing on the mid-downstream LNG business to generate better returns.