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KOGAS eyes business opportunities in Trump’s energy policy

Collected: 2017.02.02

Distributed: 2017.02.03

Source: Go Direct

South Korea`s state-run Korea Gas Corp. (KOGAS) sees business opportunities in the U.S. under President Donald Trump as he is likely to stay good on campaign pledges on deregulation and heavy infrastructure spending, given the way he has been acting out on trade and immigration agenda.

“Energy companies can leverage on Trump’s promise to lift restriction on clean coal,” said Lee Seung-hoon, head of the state gas utility firm, in an interview with the Maeil Business Newspaper.

As part of the government endeavors to win favor from the incoming U.S. administration, the state company will import 2.8 million tons of U.S. natural gas from shale fields annually for the next 20 years from this year.

The company incurred losses of more than 500 billion ($432 million) from oversea resources projects in the fourth quarter alone, but will continue overseas exploration to reduce fuel import cost. It is reviewing to build two to three LNG plants in the U.S.

By Ko Jae-man

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