South Korea’s LNG importing giant Kogas has reportedly gone into an arbitration with Australia’s North West Shelf export project led by Woodside.
Kogas is looking to settle a liquefied natural gas contract that ended in 2016, Reuters reported on Monday citing a Kogas spokesperson.
The arbitration relates to a difference over an agreed price renegotiation during a mid-term supply contract, the news agency said citing unidentified sources.
The North West Shelf project facilities include five LNG processing trains and two domestic gas trains. The facility is located 1260 kilometres north of Perth, Western Australia.
The LNG plant has an annual LNG export capacity of 16.9 mtpa which is exported to customers in the Asia Pacific region and beyond.
Woodside operates these facilities on behalf of the North West Shelf project participants. Other NWS JV partners are BHP Billiton, BP, Chevron, Japan Australia LNG (MIMI) and Shell.
LNG World News Staff