KOGAS update- sign soon; want upstream, downstream, offtake

[TomCrooz]

What are you talking about??? My wife also is a technical analyst. Get your head out of the gutter!

[TomCrooz]

On a side note, we need to get a close over 85 as there could be a bit of resistance at this level

[Palm]

There you go! Will be a battle I bet that last 15 minutes or so

[TomCrooz]

Palm, I am beginning to wonder if that Gravatar has some other darker meaning than just a healthy interest in cross breeding zebras to run faster

[Palm]

Yes, it's called an antelopian reversal. Zebra thought he would slow things down and Ant said, not so fast my friend. I have a leeeetle friend you need to meet; a crooze-missile!

[Palm]

Nailed it croozer; over 85 close on volume. You done good!

[Thylacine-2]

A company like KOGAS, with a bid in for participation at Elk/Antelope, might find it desirable to get the price of IOC moving up now so that price action on news starts from a higher level. This would make a low ball offer for IOC by another company, like Shell, less attractive. It will be interesting to see if the Japanese partners in the consortium have something to say soon.

[Tree]

That's the point TreeBama, they know they can walk all over IOC. Rumor has it some lecturers feel companies like Exxon and Shell will not want to do business with lil ol IOC. Maybe not, but the largest LNG company in the world certainly does. Certainly Phil will botch this up somehow.

I'm confused, if XOM and SHELL don't want to do biz with IOC who else would?  I mean, reports are several bids were turned in.  Does that mean the bids are non-accretive?  Why wouldn't they want to deal with IOC?  Or is it just IOC's management they don't want any part of??  Sigh.......I sure hope there isn't any more self-inflicted big problems for us.

This article made me feel better.  That's why I like it.

Korea eyes Gulf LNG By PETER KORUGL in INCHEON CITY The world’s biggest importer of liquified natural gas is in talks to partner with InterOil Corporation to operate the country’s second LNG project to be based in the Gulf Province.  And if discussions go well, (like JKM is high winning bidder and certain contingencies placed upon PNG agencies are met to avoid any future honest disagreements which could accidently postpone Gulf LNG by a couple more years) we could see the entry of the Korean Gas Corporation (KOGAS), a global company with experience in exploration, extraction and processing of liqufied natural gas, into PNG.  “We are in talks with InterOil to develop the Elk and Antelop gas reserves in Papua New Guinea. We want to be involved in both the upstream and downstream processing aspects of this project,” (if IOC will get real and admit their asking price is too high, the resource is doubtful and they operate in a nation with one of the worst corruption ratings in the world)  a company offical, Park Tae Seok, told this reporter during a guided tour of KOGAS Incheon refinery on Thursday.  Should the talks prove successful, KOGAS entry will certainly up the profile of PNG as an investment destination for multinational corporations, (Darn good luck for us that the year old honest disagreements between sincere parties were cleared up immediately upon O'Neill's election.  All that legit sword rattling talk of project cancellations and such weren't good for ST business.  Or was it?  I don't know,)  a major boost for the young hydrocarbon industry.  The company will not only inject money into the project, but is expected to buy the bulk of the liqufied natural gas produced from the Gulf project.  KOGAS is currently the biggest supplier of LNG to South Korea and is involved in exploration and production of LNG and other related activities in Oman, Qatar, Yemen, Indonesia, Mozambique, Canada, Myanmar, Iraq, Russia,China, Timor Leste, Uzbekistan and Australia, meeting growing demand in South Korea.  “We have not signed any agreeements as yet, but we will soon, if everything goes well,” said Mr Tae Seok, who is a member of the LNG Project Development Team.  The company had been watching the stand off between Petroleum and Energy Minister Mr William.Duma and InterOil Corporation last year, and was happy that the issues have been resolved amicably.   (Honest disagreements can happen between mature adults.  Glad this is settled and now Kalinoe can retire with 'job well done' legacy) KOGAS should be pleased to know that the O’Neill Government has reversed its decision to put InterOil on notice, over what it claimed, was a deviation from the project agreement.  (glad these parties smartly cleared up any honest misunderstandings and can all move onward and upward)  In a statement, the government announced that it was setting up a team to move forward with InterOil. South Korea has experienced unprecedented economic growth in recent years that its demand for clean and safe energy is growing. KOGAS, in its 2011 annual report said the country’s supply of natural gas has increased 21-fold since its first supply 24 years ago.  Recently we have expanded our distribution to 40 cities and set a target of increasing the number of households being supplied from 13 million in 2010 to 17 million by 2016.  As such, the natural gas supply rate is expected to increase from 73.3 precent in 2011 to 77.5 percent by 2015.

Korea eyes Gulf LNG

By PETER KORUGL in INCHEON CITY

The world’s biggest importer of liquified natural gas is in talks to partner with InterOil Corporation to operate the country’s second LNG project to be based in the Gulf Province. 
And if discussions go well, (like JKM is high winning bidder and certain contingencies placed upon PNG agencies are met to avoid any future honest disagreements which could accidently postpone Gulf LNG by a couple more years) we could see the entry of the Korean Gas Corporation (KOGAS), a global company with experience in exploration, extraction and processing of liqufied natural gas, into PNG. 
“We are in talks with InterOil to develop the Elk and Antelop gas reserves in Papua New Guinea. We want to be involved in both the upstream and downstream processing aspects of this project,” (if IOC will get real and admit their asking price is too high, the resource is doubtful and they operate in a nation with one of the worst corruption ratings in the world)  a company offical, Park Tae Seok, told this reporter during a guided tour of KOGAS Incheon refinery on Thursday. 
Should the talks prove successful, KOGAS entry will certainly up the profile of PNG as an investment destination for multinational corporations, (Darn good luck for us that the year old honest disagreements between sincere parties were cleared up immediately upon O'Neill's election.  All that legit sword rattling talk of project cancellations and such weren't good for ST business.  Or was it?  I don't know,)  a major boost for the young hydrocarbon industry. 
The company will not only inject money into the project, but is expected to buy the bulk of the liqufied natural gas produced from the Gulf project. 
KOGAS is currently the biggest supplier of LNG to South Korea and is involved in exploration and production of LNG and other related activities in Oman, Qatar, Yemen, Indonesia, Mozambique, Canada, Myanmar, Iraq, Russia,China, Timor Leste, Uzbekistan and Australia, meeting growing demand in South Korea. 
“We have not signed any agreeements as yet, but we will soon, if everything goes well,” said Mr Tae Seok, who is a member of the LNG Project Development Team. 
The company had been watching the stand off between Petroleum and Energy Minister Mr William.Duma and InterOil Corporation last year, and was happy that the issues have been resolved amicably.   (Honest disagreements can happen between mature adults.  Glad this is settled and now Kalinoe can retire with 'job well done' legacy)
KOGAS should be pleased to know that the O’Neill Government has reversed its decision to put InterOil on notice, over what it claimed, was a deviation from the project agreement.  (glad these parties smartly cleared up any honest misunderstandings and can all move onward and upward) 
In a statement, the government announced that it was setting up a team to move forward with InterOil.
South Korea has experienced unprecedented economic growth in recent years that its demand for clean and safe energy is growing. KOGAS, in its 2011 annual report said the country’s supply of natural gas has increased 21-fold since its first supply 24 years ago. 
Recently we have expanded our distribution to 40 cities and set a target of increasing the number of households being supplied from 13 million in 2010 to 17 million by 2016. 
As such, the natural gas supply rate is expected to increase from 73.3 precent in 2011 to 77.5 percent by 2015.