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

KOGAS in Talks to Buy Stake in Prelude FLNG

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