South Korea’s Korea Gas will strike a deal with Royal Dutch Shell and Total to purchase 5.64 million metric tons of liquefied natural gas (LNG) a year, The Wall Street Journal reports. The long-term deal is valued at $84.1 billion, adds Reuters.
Beginning between 2015 and 2018, Korea Gas will import 3.64 million tons of LNG a year for 20 years from Shell’s Prelude gas field in Australia. The company can buy one million tons a year of LNG from locations, including Nigeria and Russia starting from 2013 until Prelude starts production.
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