[Aju News DB]

SEOUL -- South Korea's state-run public natural gas company endorsed an investment in a multinational project to build a major liquefied natural gas (LNG) terminal in western Canada. The amount of money was not disclosed.

Korea Gas Corp. (KOGAS), a major LNG importer, said Friday that its board has approved the proposed injection of money through its subsidiary, Kogas Canada LNG Ltd., into the LNG project. KOGAS will provide an equity investment, loans for its subsidiary and guarantees for the cost of building plants.

LNG Canada, a joint venture company comprised of energy companies including Royal Dutch Shell, PETRONAS of Malaysia, PetroChina, Mitsubishi Corp. of Japan and KOGAS, will build and operate an LNG export terminal in Kitimat, British Columbia.

LNG Canada aims to export as much as 26 million tons per year. It would be Canada's largest-ever infrastructure project. Each partner should make an investment decision by the November 30 deadline to get tax breaks and other incentives.
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