Regional LNG: Yemen LNG likely supplier for $30B Kogas deal: Report

Yemen LNG Project, an international consortium, and the Shell-led Sakhalin II Project will likely be chosen as the main suppliers for South Korea's 20-year gas deal valued at $30 billion, online news provider Edaily of Seoul reported Tuesday.

The report didn't provide further details or cite any sources.

South Korea's Ministry of Commerce, Industry and Energy will announce Wednesday the suppliers for Korea Gas Corp.'s 20-year liquefied natural gas deal.

Korea Gas Corp., or Kogas, is the country's dominant LNG supplier.

Yemen LNG is led by France's Total S.A., which has a 43 percent stake in the consortium, according to Edaily.

South Korea's SK Corp., Hyundai Corp., Samwhan Corp. and Korea National Oil Corp. together hold a 16 percent of stake in the project, the report said, but didn't specify ownership details for the remaining 41 percent stake.

The report also said Yemen LNG Project is likely to sign long-term contracts to export 2.5 million metric tons of LNG a year to Tractebel Energia S/A's U.S. unit and 2 million tons a year to Total's U.S. unit for 20 years. (*)