La Corée du Sud et EnCana fait un join venture en C.B.

Posted by Québec de Droite in , , , on lundi 1 mars 2010

Extrait de: Reports: SKorea to invest in Canadian gas fields, Forbes.com, Associated Press, 03.01.10

SEOUL, South Korea -- South Korea's state-run gas company plans to invest EnCana about $1.1 billion over the next five years in natural gas fields in Canada, news reports said Monday.

The Korea Gas Corp. signed a contract with energy company EnCana Corp.( ECA ) last week to jointly develop and operate three natural gas fields in British Columbia, the mass circulation Chosun Ilbo newspaper reported.

KOGAS acquired a 50 percent stake in the gas fields, the report said. KOGAS plans to start extracting natural gas from the fields in 2017 after exploration and test production, the Dong-a Ilbo newspaper said.

Calls to the gas company went unanswered on Monday, a national holiday in South Korea.

Gas-hungry Asia is making a major push into one of Canada's most promising energy frontiers, with a billion-dollar investment by a South Korean company that boosts British Columbia's efforts to become a natural gas export hub.

The deal announced yesterday by Korea Gas Corp. also sets the stage for more KOGAS foreign interest in Canada's natural gas resources, which have struggled under low commodity prices but still form a huge reserve basin that other countries covet.

Korea Gas plans to spend $1.1-billion over the next five years to bring gas to the surface from a huge patch of land that is owned by EnCana Corp. of Calgary.

The company expects to extract a trillion cubic feet of gas from the area, which lies in the lucrative gas fields of B.C.'s north-east corner.

That's nearly enough to feed South Korea's demand for a full year.

EnCana Corp

We use innovation to responsibly develop natural gas, the cleanest burning fossil fuel.

We are... among the largest natural gas companies in North America, committed to providing an abundant supply of natural gas - the cleanest burning fossil fuel - to our communities. We conduct our business ethically and responsibly while ensuring the health and safety of our employees and contractors, and respecting the integrity of our environment.

Our people... are the foundation of our success. They share ideas to decrease costs, increase production, create a safer place to work and protect our environment. The talent, ingenuity, and technical leadership of our more than 3,800 employees and contractors means that we are able to invest for the long term.

Our strategic focus... is natural gas, consisting of an unparalleled portfolio of eight key resource plays across Canada and the United States. These resource plays are capable of delivering steady, reliable gas production for generations

kogas an abbreviation for Korea Gas Corporation, was incorporated by the Korean government in 1983. Since its founding, it has grown to become the world's largest LNG importer. As the nation's sole LNG provider, the Corporation is fully committed to providing clean, safe and convenient energy to the people of Korea. In keeping with this mission, KOGAS currently operates three LNG terminals and a nationwide pipeline network spanning over 2,739km in order to ensure stable supply for the nation.

KOGAS imports LNG from around the world and supplies it to power generation plants, gas-utility companies and city gas companies throughout the country. it produces and supplies natural gas, purifies and sells gas-related by-products, builds and operates production facilities and distribution network, and explores, imports and exports natural gas for domestic and overseas markets.

KOGAS received the sovereign credit rating of A3 and A-, the highest credit rating ever given to a Korean company by the Moody's and S&P. On the foundation of its accumulated experience and expertise, the Corporation is actively developing new technologies, expanding the scope of businesses, and participating in foreign projects in our efforts to realize our goal of becoming a leading integrated energy company in the world.

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