Indian Oil, Korea Gas eye collaboration

Indian Oil Corp. Ltd. and Korea Gas Corp. (Kogas), both state-owned, have signed a memorandum of understanding for joint exploration and production worldwide and development of gas infrastructure and LNG sourcing.

Kogas imports 33 million tonnes/year of LNG through three large LNG terminals that it developed, owns, and operates. It also operates a pipeline network in South Korea and has foreign investments in LNG liquefaction projects and 20 international exploration and production projects.

Indian Oil is a large refiner, marketer, and petrochemicals company with interests in pipelines, exploration and production, and gas marketing.