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Korea Gas Corp., South Korea’s state-run LNG provider, said Friday its unit KOGAS Canada LNG has sold 5 percent of its stake in the multinational joint venture LNG Canada as it tries to reduce its debts as demanded by the government.
The stake sales to Shell Canada Energy, a unit of global energy firm Shell, lowered KOGAS Canada LNG’s stake in LNG Canada to 15 percent, the company said in a regulatory filing.
The company did not reveal the amount of proceeds from the sale.
“My company’s policy is not to disclose the amount of the stake sales,” said an official by phone, declining to give his name.
LNG Canada is a joint venture comprising Shell Canada Energy with a 50 percent stake, Phoenix Energy Holdings, an affiliate of Petro-China Investment (Hong Kong), with 20 percent, and KOGAS Canada and Diamond LNG Canada, an affiliate of Mitsubishi Corp., with 15 percent each. (Yonhap)
The stake sales to Shell Canada Energy, a unit of global energy firm Shell, lowered KOGAS Canada LNG’s stake in LNG Canada to 15 percent, the company said in a regulatory filing.
The company did not reveal the amount of proceeds from the sale.
“My company’s policy is not to disclose the amount of the stake sales,” said an official by phone, declining to give his name.
LNG Canada is a joint venture comprising Shell Canada Energy with a 50 percent stake, Phoenix Energy Holdings, an affiliate of Petro-China Investment (Hong Kong), with 20 percent, and KOGAS Canada and Diamond LNG Canada, an affiliate of Mitsubishi Corp., with 15 percent each. (Yonhap)
