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IOC inks MoU with Korea Gas Corporation for LNG and E&P ventures

18 Oct 2012 Evaluate

State run, Indian Oil Corporation (IOC) has inked a memorandum of understanding (MoU) with Korea Gas Corporation (KOGAS) for joint participation in exploration and production of gas and oil at the global level and developing natural gas infrastructure projects and LNG sourcing.

KOGAS is the national gas company of Korea and the world’s largest single importer of LNG clocking about 33 million metric tonnes per annum (MMTPA) in 2011. KOGAS is the developer, owner and operator of three large-scale LNG receiving terminals as well as an extensive nationwide pipeline network in Korea. KOGAS has equity investments in LNG liquefaction projects and 20 overseas E&P projects and has lined up LNG sourcing contracts from several countries.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

Indian Oil Corp. Share Price

144.70 -2.15 (-1.46%)
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Company Name CMP
Reliance Industries 1435.70
Indian Oil Corp. 144.70
BPCL 302.85
HPCL 387.00
MRPL 167.90
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