Korea Gas Corp. (Kogas) has been boosting its support to SMEs to enter the global market in a bid to develop the gas industry, a big factor for the growth of the Korean economy.
Kogas signed an MOU with the Korea Gas Safety Corp. on Nov. 7 at its Daegu head office to support the growth of the gas industry and SMEs. On the following day, the company hosted a meeting on the support of SMEs to enter the global market and to export counseling services for SME natural gas suppliers. Kogas aims at providing overall support to SMEs to help them grow in cooperation with the public firms that control the domestic gas industry in order to expand the base of the domestic gas industry and explore overseas gas markets.
The programs that Kogas offers range from the reform of productivity to manufacturing, matters related to technological support and financial assistance, and ways to explore overseas markets. Korea Gas Corp., one of the world¡¯s largest buyers and importers of liquefied natural gas, has emerged as a potential partner in and customer for Sempra Energy¡¯s proposed liquefied natural gas plant on the Gulf of Mexico.
San Diego-based Sempra said in a statement released that it and Woodside Petroleum Ltd. had signed a memorandum of understanding with Kogas regarding the LNG liquefaction plant set to be built in Port Arthur, Texas. Sempra said the memorandum opens discussion about key aspects of the Port Arthur LNG project, including engineering and construction works, operations and maintenance, feed gas sourcing, offtake of liquefied natural gas and Kogas as a potential purchaser of LNG from, and equity participant in, the Port Arthur LNG project.
¡°Kogas¡¯ expertise and knowledge of the LNG market will complement Sempra¡¯s and Woodside¡¯s extensive natural gas infrastructure development and combined marketing and operational experience to continue advancing the Port Arthur LNG project,¡± said Octavio M.C. Simoes, president of Sempra LNG & Midstream LLC.
The proposed Port Arthur LNG plant is designed to include two natural gas liquefaction trains, LNG storage tanks, marine berths and related facilities.
Sempra LNG & Midstream and Woodside Energy Inc. signed a project development agreement in last spring. That deal lays out how they might share costs of the Port Arthur LNG project related to the development, technical design, permitting and marketing of the proposed liquefaction project.
By 2019, Yucatan will have its first natural gas plant, with an investment of $1.5 billion by the firm Korea Gas Corporation (Kogas), providing service to the Yucatan Peninsula.
The president of the National Chamber of Industry (Canacintra), Mario Can Marin, said the project unveiled by Kogas is a state-based liquefied natural gas plant, which would seek to provide the energy to businesses and residences in Yucatan, Campeche and Quintana Roo.
Can Marin stated that this project will bring great benefits to the local industrial sector, as it will help make the market more competitive with a more reasonable price for this highly demanded energy product.
¡°Having a plant producing natural gas in Yucatan will significantly lower the production costs for all industries in the region, and will help them to comply with clean energy regulations¡±, the business leader said.
He said the Korean company plans to begin operations in 2019. In the case of Yucatan, the installation of this plant would guarantee the supply of 300 million cubic feet per day required for businesses that use this type of energy, of which 95 percent, 285 million cubic feet, are used by the Comision Federal de Electricidad (CFE) to produce the energy consumed in Yucatan and the rest of Southeast Mexico.