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AGDC finds a Potential Partner for Alaska LNG

Alaska Gasline Development Corporation President Keith Meyer and Korea Gas Corporation...
Alaska Gasline Development Corporation President Keith Meyer and Korea Gas Corporation President and CEO Dr. Seung-hoon Lee at the signing of a memorandum of understanding between the two organizations in Washington, D.C. on June 28, 2017. (Photo by Neshan H. Naltchayan / Alaska Gasline Development Corporation) (KTUU)
Published: Jun. 29, 2017 at 12:18 PM AKDT
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The Alaska Gasline Development Corporation (AGDC) says it has signed a memorandum of understanding (MOU) with the Korea Gas Corporation. The MOU establishes a joint committee with decision making authority and sets the framework for AGDC and the Korean Gas Corporation (KOGAS) to collaborate on the potential of the Korean corporation participating in all aspects of the development of Alaska LNG.

According to a release by the AGDC, the paperwork was signed on Wednesday, June 28, in Washington D.C., and it will allow the two corporations to work together in the name of Alaska LNG, including in the areas of project investment, development and operations.

In the email sent by AGDC it quotes its President, Keith Meyer, saying, "The MOU reached (yesterday)… lays the groundwork for a significant relationship between the State of Alaska and the Republic of Korea. KOGAS is in the market for the development of vast natural gas resource base. Alaska LNG, anchored by the enormous proven natural gas resources of Alaska’s North Slope, is well-positioned to satisfy KOGAS’ needs for generations."

The Korean Gas Corporation is a state-run organization and it is the primary LNG buyer in the Republic of Korea. It is also touted in the release as the second-largest corporate LNG buyer in the world.