Australia: Korea Gas aiming for up to 3.5m tonnes of LNG.Byline: manish03 South Korea plans to expand the output of natural gas by Korea Gas Corp (KOGAS KOGAS Korea Gas Corporation KOGAS Korea Gas Corp. (South Korea) ) up to 3.5 million tonnes per year (tpy) in the next five years, Seouls energy ministry says. Natural gas production by KOGAS, the worlds largest commericial buyer of liqueifed natural gas (LNG LNG (liquefied natural gas): see under natural gas. ), was at 200,000 tonnes in 2006, the ministry said in a statement. The plan comes a month after the government had announced its plan to invest 19 trillion won ($19.69 billion) by 2012 to lift crude production by state-run Korea National Oil Corp (KNOC KNOC Korea National Oil Corporation ) to 300,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. (bpd), up from the current 50,000 bpd. The government has yet to decide on the amount of the investment for KOGAS. The state-controlled gas firm currently has 14 gas fields under exploration and development, but lacks technical skills and experience compared with other international majors, analysts said. As part of the expansion plan, KOGAS will further partnerships with gas majors including Russias Gazprom , Malaysias Petronas and Italys ENI , the ministry said. Copyright A[umlaut umlaut (  m`lout) [Ger.,=transformed sound], in inflection, variation of vowels of the type of English man to men. ] : Euclid Infotech Pvt. Ltd.
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