KOGAS in Talks to Buy Stake in Prelude FLNG (Australia)

Posted on Dec 23rd, 2011 with tags , , , , , , , , .

South Korea’s KOGAS said today that is in negotiations with Shell to acquire stake in Prelude FLNG.

KOGAS, the world’s largest corporate buyer of LNG, plans to set up a wholly owned subsidiary next year, KOGAS Prelude, in Perth, the company said in a statement to the Korea Stock Exchange.

The Prelude FLNG facility will be 488m long, 74m wide and and it will be located approximately 475 kilometres north-northeast of Broome, Western Australia.

Once operational, the Prelude FLNG will produce at least 5.3 million tonnes per annum of liquids: 3.6 mtpa of LNG, 1.3 mtpa of condensate (equivalent to 35,000 bbl/d) and 0.4 mtpa of LPG.

LNG World News Staff, December 23, 2011; Image: Shell

 

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