KOGAS to Invest in Canadian Gas Fields

South Korea’s KOGAS plans to invest $41.1 billion over the next five years in the development of three Canadian gas fields with EnCana.

The two firms will jointly explore and develop the three gas fields situated in the northeastern part of British Columbia, according to Reuters.

KOGAS will own a 50% share of the gas fields currently held by EnCana.

KOGAS will secure 20 million tonnes of natural gas through the project and produce over 1 million tonnes of natural gas in 2017.