Oman storing LNG in South Korea, as storm clouds loom over Gulf
ABU DHABI — Oman plans to store liquefied natural gas in South
Korea.
The sultanate has signed an agreement with South Korea's state-owned
Kogas that would establish LNG storage facilities in the Southeast Asian
state. Under the accord signed on May 29, Kogas would also market LNG
produced by Oman in 2007, Middle East Newsline reported.
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Oman has been one of several Gulf Cooperation Council states that sought
to store energy supplies far from the turbulent Gulf region. GCC officials
have sought contingencies in case of an Iranian war with the United States
that
could block the Straits of Hormuz, the passage for about 30 percent
of global oil shipments.
Omani Economy Minister Ahmed Bin Abdul Nabi Macki said the agreement
would lead to additional energy projects with South Korea. He said South
Korea was one of the first to sign a long-term supply agreement for Omani
gas.
