[THE INVESTOR] Korea Gas announced on Oct. 5 that it has signed an agreement with BP to sell annual 330,000 tons of liquefied natural gas produced at its offshore facility in Mozambique for the next 20 years.

Through its subsidiary, the state-owned company owns 10 percent stake of Coral South Floating LNG Facility expected to be installed offshore the African country. The facility is operated by Eni East Africa, which owns 70 percent stake in Area 4, where 1.8 billion tons of gas was discovered in 2014, and will begin commercial operations from 2022. 



Commercial details of the agreement remain undisclosed.

By Hwang You-mee (glamazon@heraldcorp.com)