Gas Gong, MOU to Promote Construction of Tongyeong Northeast Asia LNG Hub

Gyeongnam Province and Tongyeong City Sign Agreement... Discovering New LNG Projects

Korea Gas Corporation, Gyeongsangnam-do, and Tongyeong City signed a memorandum of understanding on the 1st to jointly promote the establishment of a Northeast Asia LNG hub, and key officials are taking a commemorative photo. Lee Seung (from left), Vice President of Korea Gas Corporation, Kang Seok-ju, Mayor of Tongyeong, and Park Jong-won, Deputy Governor for Economic Affairs of Gyeongsangnam-do. (Photo by Korea Gas Corporation)

[Asia Economy Reporter Moon Chaeseok] Korea Gas Corporation announced on the 1st that it signed a Memorandum of Understanding (MOU) with Gyeongsangnam-do and Tongyeong City at Tongyeong City Hall to jointly promote the establishment of a Northeast Asia Liquefied Natural Gas (LNG) hub.

Through this MOU, Gas Corporation plans to build an LNG hub within the Anjeon National Industrial Complex based on the Tongyeong LNG production base, while also discovering small-scale projects to supply LNG within the region.

About 30 officials from each organization attended the MOU signing ceremony, including Lee Seung, Vice President of Gas Corporation, Park Jongwon, Deputy Governor of Gyeongsangnam-do, and Kang Seokju, Mayor of Tongyeong.

Lee Seung, Vice President of Gas Corporation, said, “With this MOU signing as an opportunity, we hope to timely establish a small-scale LNG hub and lay the foundation for revitalizing the economy of Gyeongsangnam-do and Tongyeong, which are facing difficulties due to the recent downturn in the shipbuilding industry.”