Regional LNG: GS Caltex in talks to buy Gorgon LNG

GS Caltex Corp., South Korea's second-biggest oil refiner, is in talks with Chevron Corp. to import LNG under term contracts from the Gorgon project in Australia, a top GS Caltex executive told Reuters on Monday.

GS Caltex, a 50:50 joint venture between South Korea's GS Holdings Corp. and Chevron Corp., said in late September it would import around two million tonnes of LNG per year from 2008.

"We are currently in talks with Gorgon LNG project only," GS Caltex president Y.S. Myung, said.

Chevron, the operator, owns 50 percent of the Gorgon LNG project. Shell and Exxon Mobil Corp. each hold 25 percent. (*)