Regional LNG: Release: NWS LNG opens Korean office
Thursday, October 28 2004 - 02:31 AM WIB
NWS LNG is the LNG marketing organisation of the North West Shelf Venture, which currently supplies Korea Gas Corporation (Kogas) with 500,000 tonnes of LNG a year under a seven-year contract that started in 2003.
It has also supplied a number of spot cargoes to Kogas in recent years.
NWS LNG was invited in August 2004 by Kogas to submit a bid for long-term LNG supply. Korea is the world?s second largest LNG market importing more than 20 million tonnes of LNG a year.
The Seoul office will be managed by Akos Gyarmathy, Vice President and Chief Representative Seoul for NWS LNG.
Gyarmathy said that the Seoul office was designed to ensure that customers in Korea continued to receive a very high level of service.
?We have been building strong relationships with Korea for a number of years and it is now appropriate that we have full-time representation in the country,? Gyarmathy said.
He added that with strong growth predicted for LNG demand in North Asia, it was important that the NWS LNGVenture was well-positioned to supply existing and new markets as business opportunities arose.
The Seoul office complements the NWS Venture?s existing strong presence in the region, with other representative offices located in Beijing, China and Tokyo, Japan. NWS LNG has its headquarters in Perth, Western Australia.
The six equal participants in the North West Shelf Venture are: BHP Billiton Petroleum (North West Shelf) Pty Ltd; BP Developments Australia Pty Ltd; ChevronTexaco Australia Pty Ltd; Japan Australia LNG (MIMI) Pty Ltd; Shell Development (Australia) Proprietary Ltd; and Woodside Energy Ltd. (Operator) (end of release)