...It has not specified which companies might be involved in the drilling process. If the reserves are confirmed, the Donghae gas field will be fully owned by the Korea Gas Corporation. The state-run KOGAS will determine daily production volumes and decide on the domestic and international distribution of the oil and gas. This could lead to significant benefits, including reducing the need for impor...

... thoroughly preparing for an emergency," he added. During the meeting, the state-run Korea Gas Corp. noted that the country is maintaining LNG reserves at maximum capacity, with the supply anticipated to remain stable through the end of March. The government plans to hold regular meetings with KOGAS and other LNG importers to maintain a stable supply of the resource, the ministry added. (Yonhap)

...n government to end external financing for coal-fired power plants abroad and to reach carbon neutrality by 2050, our work together can support it. I think about LNG Canada in British Columbia with KOGAS as a joint-venture participant, that will help replace not only Russian natural gas but also coal use. I think about Canada’s Northland Power which is developing Korean offshore wind projects with...

... secure the sustainability of energy supply." Lee emphasized that both companies are suffering from hikes in global energy prices. Kepco's cumulative deficit from 2021 mounts to 38.5 trillion won. Kogas had about 11.6 trillion won in uncollected payments as of end-March, referring to the amount of natural gas imports that were not covered by gas bills. Both Kepco and Kogas have been pressured to maintain the current rates despite the surge in supply prices after the Russia-Ukraine war. Prior to the decision, the two companies announced reform measures to overcome t...

...ear, the government jacked up the gas rate for households more than 40 percent on-year, or 5.47 won per megajoule. The Korea Gas Corp. said last week it will freeze the wages of senior officials and seek cost-cutting measures worth 15.4 trillion won over the next five years to improve its financial health. KOGAS had around 11.6 trillion won in uncollected payments as of the end of March. (Yonhap)

...owned enterprises. The amount was up 30.1 percent from 131.79 million won a year earlier. Former Kogas President and CEO Chae Hee-bong received annual salary of about 200 million won, up 43.4 percent...gling under heavy debts and consumers were worrying about heating costs, the ministry judged that Kogas executives and employees deserved bonus. It is brazen of Kogas executives to take bonuses, but ...

...t majority state-owned public enterprises Korea Electric Power Corp. (KEPCO) and Korea Gas Corp. (KOGAS) from going bankrupt. Their losses have snowballed because they failed to reflect sharp interna...n elections, eventually shifting the responsibility for raising them to the next administration. KOGAS expects its total accumulated losses to increase from 8.6 trillion won late last year to 12.9 tr...

...lso with stunning Central Park and eastern skyline views, that incorporates several furniture pieces including a custom dining table and chairs by Patrick Naggar , a custom pendant light by John Koga , and an art installation by Studio Hoon Kim, all with plaster as a common design element. Adjoining the dining room is the windowed custom kitchen by Thierry Despont for Molteni with statuary m...

...data shows that many people and companies are yet to become serious about reducing energy use. With international energy prices still at a high level, the freeze of fee rates would force Kepco and Kogas to take on more of the burden, which will eventually translate into bigger and more shocking bills in the future. Some experts claim the problems with public utility bills trace back to the previ...

...price surge. Kepco’s cumulative operating loss mounted up to 21.8 trillion won as of the third quarter, and it is estimated that this year's cumulative operating loss will exceed 30 trillion won. Kogas’ cumulative accounts receivable stands at 5.7 trillion won as of the third quarter, which is more than three times higher than last year's 1.8 trillion won. This year electricity rate increased b...

...nd Kia are the top two selling brands in automobiles. Kepco is expanding transmission lines, Posco is enlarging liquefied natural gas storage capacity and SK is investing in LNG generation. SK and Kogas are tendering for further LNG generating capacity. Kogas is tendering for an LNG import, storage and distribution terminal. And in mass transport, Hyundai E&C and Dohwa Engineering are tendering for light rail in Santiago and Santo Domingo, respectivel...

...t at NH Investment & Securities, said. Households face a greater burden as gas prices are soon to go up. According to Korea Gas Corp., gas charges will gradually go up by 2.3 won per megajoule in October. This would raise monthly gas bills to 33,050 won from the current 28,450 won. Kogas expects that the price hike will allow the company to clear its debt worth 1.8 trillion won within two years.