Financial Times: Seoul to seek bidders for record 20-year LNG contract
By Andrew Ward and Song Jung-a in Seoul and David Pilling in,Tokyo
Published: August 18 2004 05:00 | Last updated: August 18 2004 05:00
South Korea will invite bids on Friday for its biggest liquefied natural gas supply contract, worth an estimated $25bn-$30bn (€20bn-€24bn, £14bn-£16bn) over 20 years. It underlines north-east Asia’s voracious appetite for energy.
Seoul’s willingness to sign a 20-year contract, longer than its previous gas supply deals, highlights a growing desire in the region to lock in long-term and reliable supplies of energy.