Woodside, KOGAS extend LNG partnership

PERTH, Australia -- Woodside and Korea Gas Corporation (KOGAS) have signed a Memorandum of Understanding (MoU) for cooperation, extending the existing partnership between the companies.

The MoU was signed in Perth by Woodside CEO Peter Coleman and KOGAS President and CEO Lee Seung-Hoon.

The agreement, which renews a partnership in place since 2011, furthers cooperation between Woodside and KOGAS in a number of areas. These include developing future business arrangements, knowledge sharing, staff secondments, joint technology studies and workshops.

Woodside CEO Peter Coleman said the signing gives both companies scope to create material benefits by working together to realize new project opportunities.

“The business case for continuing our cooperation with KOGAS is clear. Their capabilities and technological innovations in LNG are world class and complement Woodside's business,” he said.

KOGAS CEO Lee, Seung-Hoon said the event marked a new milestone for both companies to boost the growth engine for KOGAS and Woodside.

“Woodside's open-door system already gives us new business opportunities. Their outstanding capabilities as Australia's most experienced and competitive oil and gas company will promote us to the next level,” he said.

Woodside supplies LNG to KOGAS, with LNG primarily sourced from Pluto LNG.