Australia’s Woodside Energy and Korea Gas Corp. (Kogas) entered into a memorandum of understanding (MOU) to renew a partnership that has been in place since 2011.
The MOU, signed by Woodside CEO Peter Coleman and Kogas president and CEO Lee Seung-Hoon, will see the duo developing future business arrangements, knowledge sharing, staff secondments, joint technology studies and workshops.
Coleman said the agreement gives both companies scope to create material benefits by working together to realize new project opportunities.
“The business case for continuing our cooperation with KOGAS is clear. Their capabilities and technological innovations in liquefied natural gas (LNG) are world class and complement Woodside’s business,” he said.
Seung-Hoon said this marks a new milestone for both companies to boost the growth engine for KOGAS and Woodside.
“Woodside’s open-door system already gives us new business opportunities. Their outstanding capabilities as Australia’s most experienced and competitive oil and gas company will promote us to the next level,” he said.
Woodside currently supplies LNG to KOGAS, with LNG primarily sourced from its Pluto LNG development offshore Australia.
Map of Pluto, from Woodside.
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