SEOUL, Nov. 24 (Korea Bizwire) – As former U.S. President Donald Trump positions for the return to the White House, South Korea is considering expanding its purchase of American energy as part of its strategy to manage trade pressures from the U.S. This move is also expected to strengthen South Korea’s negotiating power with its traditional [...]
SEOUL, Oct. 10 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Thursday it has won a 1.69 trillion-won (US$1.25 billion) order to build six liquefied natural gas (LNG) dual-fuel container vessels from a European shipper. Hanwha Ocean will construct six 15,000 twenty-foot equivalent units (TEU) LNG dual-fuel container ships at its dockyard [...]
SEOUL, Jul. 9 (Korea Bizwire) — POSCO International Corp. said Tuesday it has completed the construction of a liquefied natural gas (LNG) terminal, marking the first such facility operated by a private business. The trading and energy unit of South Korea’s top steelmaker, POSCO, said the completion of the terminal, which includes six storage tanks, [...]
SEOUL, Jul. 1 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Monday it has won orders totaling 2.15 trillion won (US$1.55 billion) for eight carriers from two Middle Eastern shippers. Hanwha Ocean will build four liquefied natural gas (LNG) ships for one undisclosed Middle Eastern shipper at a cost of 1.43 trillion [...]
SEOUL, May 2 (Korea Bizwire) — South Korea’s industry ministry on Thursday discussed ways to seek new import contracts for liquefied natural gas (LNG) with the state-run Korea Gas Corp. (KOGAS) to stabilize prices and meet growing demand. The discussion came as some of the long-term import contracts clinched by KOGAS are set to expire [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korean shipbuilding, oil refining and machinery conglomerate HD Hyundai said Thursday its shipbuilding units succeeded in developing the country’s first liquid natural gas (LNG)-hydrogen mixed-fuel engine. Korea Shipbuilding & Offshore Engineering Co. and its affiliate Hyundai Heavy Industries Co. jointly announced on the completion of performance tests for [...]
SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s state-run gas company Korea Gas Corp. (KOGAS) announced on Monday that it had started producing liquefied natural gas (LNG) at the Coral gas field in Mozambique, and the first shipment had been completed. The project uses a floating liquefied natural gas (FLNG) facility to extract gas from [...]
LONDON/HOUSTON/WESTMINSTER, Colo., July 13 (Korea Bizwire) — Wood Mackenzie, Inc. a Verisk business (Nasdaq: VRSK), and Ball Corporation (NYSE: BALL) today announced the launch of Global LNG Liquefaction Monitoring – the first product arising from their strategic agreement to accelerate the development of advanced analytics for energy markets. The Global LNG Liquefaction Monitoring product provides near real-time [...]
SEOUL, July 4 (Korea Bizwire) — SK E&S Co., a South Korean natural gas provider, is planning to open an office in London to push for an expansion in Europe, the world’s largest economic bloc, where the energy market is being reshaped amid the ongoing Russia-Ukraine conflict, the company’s head said Monday. “In the past, [...]
SEOUL, July 4 (Korea Bizwire) — South Korean top carmaker Hyundai Motor Co. has officially scrapped a plan to build a liquefied natural gas (LNG)-powered thermal power plant that it had pursued as part of a carbon neutral strategy. The company said it had mulled over constructing an LNG power plant to reduce carbon emissions [...]