Korean

Contrary to previous reports, the opening of a 1 Bcf/d liquefied natural gas (LNG) receiving terminal developed by a Korean-Japanese consortium has been delayed until early 2012, according to business news reports Friday south of the U.S. border. A variety of “setbacks” are being dealt with, an ICIS Heren report indicated.

SandRidge Energy will transfer a 13.2% interest in its Mississippian Lime play acreage in northern Oklahoma and southern Kansas to an affiliate of South Korean investment firm Atinum Partners Co. for $500 million, the Oklahoma City-based company said.

SandRidge Energy will transfer a 13.2% interest in its Mississippian Lime play acreage in northern Oklahoma and southern Kansas to an affiliate of South Korean investment firm Atinum Partners Co. for $500 million, the Oklahoma City-based company said.

Joint ventures (JV) have given Chinese and Korean companies a toehold in U.S. shale gas plays while hardly raising an eyebrow among those who might oppose an outright corporate takeover of a U.S. energy company by such a foreign interest. However, it’s only a matter of time before such a deal happens, Deloitte LLP consultants said.

Joint ventures (JV) have given Chinese and Korean companies a toehold in U.S. shale gas plays while hardly raising an eyebrow among those who might oppose an outright corporate takeover of a U.S. energy company by such a foreign interest. However, it’s only a matter of time before such a deal happens, Deloitte LLP consultants said.

Houston-based Gastar Exploration Ltd. on Wednesday inked a joint venture (JV) agreement with South Korean investment firm Atinum Partners Co. to develop Marcellus Shale acreage in West Virginia and Pennsylvania.

South Korean producer STX Energy Co. has paid Encana Corp. C$152 million (US$144 million) to acquire the Maxhamish natural gas field in northwestern Canada. Estimated reserves in the Canadian gas field are about 120 Bcf. Current output from the field is 20.5 MMcf/d. STX said it plans to raise output to around 27 MMcf/d in the near term. Annual sales are expected to be C$40 million for at least 30 years, the producer said. South Korea imports nearly all of its energy, and STX said it plans to look for more investments overseas in the near term.

A Korean-Japanese consortium of three companies has secured a contract with the Mexican government’s electricity commission to build and operate a 1 Bcf/d liquefied natural gas (LNG) receiving terminal along the western mainline coast at Manzanillo, the group said. Mitsui & Co. Ltd. (37.5%), Samsung Engineering & Construction (37.5%) and Korea Gas Corp. (25%) secured the 20-year contract for the $900 million project.

El Paso Corp. said Monday that it has closed the previously announced sale of its 50% interest in Korean Independent Energy Corp. (KIECO) to Korea Power Investments Co. Ltd. for $284 million. El Paso, which acquired an interest in the facility in 2000, will record a pretax gain of approximately $111 million on the transaction.