Natural gas is a clean fossil fuel.. In Korea, natural gas is supplied for the use in residences, industries and power plants through national pipeline network and natural gas can be used for transportation in gas vehicles and vessels. In particular, natural gas used for power generation is expected to play an important role in low carbon green growth since it only emits one half of the carbon dioxide compared to existing coal power plants. It complements the intermittency of renewable energy such as wind and solar power.
Shell is the world's largest provider of Liquefied Natural Gas (LNG) and is responsible for development and operation of several LNG projects worldwide. In 2015, natural gas accounted for 49% of Shell's total revenue
Korea is one of the most important countries in Shell's LNG business. It is the second largest LNG importing country in the world and Korea Gas Corporation (KOGAS) is the world's largest buyer of LNG as a single company. Since supplying LNG in 1991 through Malaysia LNG project, Shell has been supplying LNG steadily from its global LNG portfolio. In recent years, Shell has been developing long-term LNG supply relationships with KOGAS as a strategic partnership, and is planning to expand its cooperation in the joint energy project and technology development.
In addition, Korea has the world's most advanced technologies in shipbuilding and construction. Many of Shell’s energy projects around the world sources plants, vessels, and offshore facilities from Korea. In particular, the world’s largest Floating LNG (floating natural gas production, liquefaction and storage facility) project, an innovative technology in the field of LNG, is under construction at a Korean shipyard.
Korea is one of the most important countries for Shell's energy business and we are looking for more cooperation with Korean companies in the future.