SK Group in US shale MoU with GE

USA

WASHINGTON, DC, June 29, 2017 – SK Group and GE on Thursday agreed to team up for the development of US shale gasfields, with the South Korean conglomerate planning to invest more than USD 1.5 billion in the US through 2022.

Signed in Washington, DC, the memorandum of understanding between SK Group and GE will also see the proposed tie-up work to explore additional investment opportunities to the tune of close to USD 4.4 billion.

The Korean-US partnership could result in USD 1.75 billion worth of US LNG shipments to South Korea, the companies said in a statement.

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