Gas Natural Fenosa to provide liquefied natural gas to South Korean company Kogas for the next two years
Barcelona-based Gas Natural Fenosa (GNF) has signed a contract with the South Korean company Kogas to supply between 1 and 1.5 bcm for the next two years. This is the first deal that Catalan GNF has signed with Kogas, the largest gas operator in South Korea and the biggest importer of LNG in the world. Furthermore, in recent months, GNF has signed contracts with companies in both Japan and India, contributing to its increase in the Asian market, which has a high growth potential in the coming years. International sales now represent 30% of the total portfolio of the Catalan energy company.
Barcelona (ACN).- It has been announced on Thursday that Barcelona-based Gas Natural Fenosa (GNF) has signed a contract with the South Korean company Kogas to supply between 1 and 1.5 bcm for the next two years. This is the first deal that has been made with Kogas, the largest gas operator in South Korea and the biggest importer of LNG in the world. Furthermore, in recent months, GNF has signed contracts with companies in both Japan and India, consolidating its position in Asia, which has markets with high growth potential. The international sales of GNF now represent 30% of the Catalan energy company’s total portfolio.
In the first half of 2013, the Barcelona-based enterprise sold 47,834 GWh outside Spain, 0.7% higher than last year. The share of liquefied natural gas of the company’s total sales has increased in recent years with the 2012 rate being 60%. GNF is one of the world’s biggest suppliers of gas and electricity, with an electricity power generation of 15.4 Gigawatts. It is present in 25 countries and has nearly 20 million customers. The Catalan company is the largest gas and electricity company in both Spain and Latin America.