KOGAS signs MoU with Brazilian state to develop LNG terminal
Brazil 
SEONGNAM, September 12, 2016 – Korea Gas Corporation (KOGAS) signed a memorandum of understanding (MoU) with the Brazilian state of Ceara to build an LNG regasification terminal on the country’s northeaster coast, the state-owned company announced on Monday.
Under this new MoU, KOGAS is to develop a project to convert an existing floating storage regasification unit (FSRU) located at the Brazilian port of Pecem into an onshore LNG import terminal.
KOGAS will now begin a feasibility study for the project. Initial estimates say the project is targeting a regasification capacity of 12 mcm (424 mcf) of gas per day, a development that could cost about USD 600 million.
KOGAS said it plans to attract private Korean companies to establish a consortium and execute the project. The Korean company added that it is looking to develop other projects with countries looking to import LNG, such as Bangladesh and South Africa.
An MoU to build a regasification LNG plant was previously signed between KOGAS and the Mexican state of Yucatan in August 2016. The project is expected to cost USD 1 billion-1.5 billion.
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