Korea Gas to Invest KRW767 Billion in Canadian Unit for LNG Project
MT Newswires Live
Sep 30
Korea Gas (KRX:036460) said its board agreed to invest 767.04 billion won in its Canadian unit, KOGAS Canada Energy, to raise capital for the LNG Canada Phase 2 Project, according to a Wednesday filing with the Korea Exchange.
As part of the investment, the South Korean energy company will acquire 799.6 million newly issued shares in the subsidiary, maintaining its 100% stake in the unit.
The cash acquisition is scheduled to be completed on Dec. 15 and represents 7.1% of its 2025 equity capital, and the project's commercial production phase is scheduled for 2031.
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