Australia’s Woodside and South Korea’s Korea Gas Corporation (KOGAS) have signed a Memorandum of Understanding (MoU) for cooperation.
The MoU was signed in Perth on Monday by Woodside CEO Peter Coleman and KOGAS President and CEO, Lee, Seung-Hoon.
According to a statement by Woodside, the agreement, which renews a partnership in place since 2011, furthers cooperation between Woodside and KOGAS in a number of areas.
These include developing future business arrangements, knowledge sharing, staff secondments, joint technology studies and workshops.
Woodside CEO Peter Coleman said: “The business case for continuing our cooperation with KOGAS is clear. Their capabilities and technological innovations in LNG are world class and complement Woodside’s business.”
KOGAS CEO Lee, Seung-Hoon, said today’s event marked 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 Pluto LNG.
The Pluto and Xena gas fields are located about 190 kilometres off Karratha, in Western Australia’s north-west. The two gas fields contain approximately 5 Tcf of dry gas.
The Pluto A platform is located 180 kilometres north-west of Karratha in 85 metres of water. Gas is piped through a trunkline to the onshore facility.