KOGAS buys into LNG project

State-run Korea Gas Corp (KOGAS) will buy a 15 per cent stake in Australia's Gladstone liquefied natural gas project today and agree on a long-term supply deal, the Korean government said, paving the way for a final investment decision on the $15bn (£9.6bn), 7.2m tonnes per annum project. In a complex transaction, KOGAS will buy 7.5 per cent each from Australia Santos , the project's operator, and Malaysia's Petronas, the South Korean government said in a statement released to the market yesterday.