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Kogas to invest further US$406 million in Prelude

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LNG Industry,

According to Reuters, Korea Gas Corp. (Kogas) has announced that it will invest a further US$406 million in Australia’s floating LNG (FLNG) project – Prelude. In 2012, US$1.5 billion was invested in the project by Kogas, which holds 10% interest in the project. Inpex holds 17.5% interest, whilst CPC holds 5% and Shell holds the remaining 67.5%.

Prelude will be located in the Browse Basin, offshore Australia, and will have a production capacity of at least 5.3 million tpy of liquids, 3.6 million tpy of LNG, 1.3 million tpy of condensate, and 0.4 million tpy of LPG.

Edited from various sources by David Rowlands

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