[Asia Economy Reporter Jang Hyowon] SC Engineering is showing strong performance. This is interpreted as gaining attention as a related stock following the explosion news of the Druzhba gas pipeline in Luhansk Oblast, Ukraine.
As of 11:07 AM on the 22nd, SC Engineering is trading at 2,740 KRW, up 5.79% compared to the previous trading day.
According to Reuters, an explosion occurred on the afternoon of the 19th at the Druzhba gas pipeline in Luhansk Oblast, an eastern conflict area of Ukraine. This pipeline is an international gas pipeline starting from Russia and extending to several countries in Eastern and Central Europe.
As the European Union (EU) faces an emergency in securing natural gas, there is a possibility that the volumes contracted by Korea and Japan may be redirected to Europe.
If the military conflict between Russia and Ukraine escalates and Russia's natural gas supply to Europe is suspended for a prolonged period, direct impacts on the domestic market will be inevitable.
Meanwhile, SC Engineering has jointly promoted energy projects with Gas Technology Corporation. The two companies signed a business agreement to secure new projects related to gas both domestically and internationally.
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