Korea Gas Corp (KOGAS) said on Wednesday the first cargo vessel containing 60,000 tonnes of liquefied natural gas, the first shipment of GLNG project from Gladstone, arrived in South Korea’s Pyongtaek port on Oct. 27.
KOGAS owns 15 percent of the GLNG project, for which it invested 20 trillion won ($17.72 billion). Other investors include Australia’s Santons Ltd, France’s Total and Malaysia’s Petroliam Nasional Bhd (Petronas) .
A total of 7.8 million tonnes of LNG will be produced from the project every year, which KOGAS and Petronas will bring in 3.5 million tonnes each, according to a KOGAS statement.
The GLNG project produces natural gas from coal seams and converts it into LNG in Gladstone, located 400 kms away, for shipping to its buyers.
(Reporting by Rebecca Jang; Editing by Gopakumar Warrier)