KOGAS Again Interested in North American Shale

South Korea's state-run Korea Gas Corp (KOGAS) is interested in buying more shale gas assets in Canada and the United States, a top official said on Monday.

State-run Asian firms have rushed into North American shale gas plays as they look to secure future energy supplies for fast-growing economies. The acquisitions have also given them access to developing shale gas technology that is opening up gas reserves previously deemed noncommercial.

"It could be in the U.S., or preferably in Canada," Young-Sung Park, executive director of the resources business division, told Reuters on the sidelines of an industry event.

KOGAS bought into Canadian energy firm EnCana Corp's Canadian gas assets in February 2010, where the South Korean firm planned investment of $1.1 billion.

Most recently, KOGAS was part of a consortium that was awarded an operating contract by the Iraq Oil Ministry to develop the Mansuriya and Siba natural gas fields.

Source: Reuters