KOGAS to Buy Stake in Prelude LNG Project

KOREA Gas, South Korea's state-run gas supplier, has plans to participate in Shell's Prelude gas development project in Australia through a stake investment.

Kogas will set up a wholly owned subsidiary, Kogas Prelude, in Perth, next year as part of its preparations, the utility said in a regulatory filing.

The Prelude FLNG facility will be 488m long, 74m wide and and it will be located approximately 475 kilometres north-northeast of Broome, Western Australia. The floating liquefied natural gas facility that can liquefy 3.6 million tonnes a year of gas.