Korea Gas Corporation (KOGAS)

On November 13, 2020, Korea Gas Corp was removed from the Iowa Public Employees' Retirement System Iran Prohibited Companies List.  (https://www.ipers.org/sites/default/files/IPERS%27%20Iran%20Prohibited%20Companies%204Q20%20%281%29.pdf)

"Iran on Monday awarded a deal to South Korean's energy giant KOGAS over the development of one of its key gas fields in the Persian Gulf. Rokneddin Javadi, the managing director of the National Iranian Oil Company (NIOC), has been quoted by the media as saying that KOGAS will as per the deal conduct technical studies of Balal gas field. Javadi added that the South Korean energy company will then present its proposals over the development of Balal project to the NIOC. The proposals, he said, will also include the possibility of using the gas from the field to produce liquid natural gas (LNG). The Korean company had earlier signed a basic agreement with the NIOC over the production of LNG, its marketing as well as the transfer of its experiences to Iran in the same area. A separate agreement had also been signed over providing engineering services for the construction of two key gas pipelines for Iran - Iran Gas Trunk-Line 7 (IGAT 7) and Iran Gas Trunk-Line 9 (IGAT 9)." (Press TV, “KOGAS wins deal over Balal gas field,” 5/2/2016) (http://www.presstv.ir/Detail/2016/05/02/463645/KOGAS-wins-deal-over-Balal-gas-field/)

As of August 15, 2019, the state of Iowa listed Korea Gas on its Iran scrutinized companies list. (https://www.ipers.org/sites/default/files/media/2017%2009%20Iran%20Prohibited%20Companies%20List%2009-30-17.pdf)

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In 2017 the U.S. state of South Carolina and Tennessee listed Korea Gas as an Iran restricted company rendering Korea Gas ineligible for investment and/or state contracting. (https://procurement.sc.gov/files/Iran_divestment_122017.pdf) (https://www.tn.gov/content/dam/tn/generalservices/documents/cpo/cpo-library/public-information-library/List_of_persons_pursuant_to_Tenn._Code_Ann._12-12-106_Iran_Divestment_Act_updated_7.7.17.pdf)

On January 3, 2017, the National Iranian Oil Company (“NIOC”) listed KOGAS as one of the “designated 29 non-Iranian companies [] qualified to participate in its pending tender round for upstream projects.” (Oil & Gas Journal Website, “NIOC qualifies 29 firms for tender round,” 1/3/2017). (http://www.ogj.com/articles/2017/01/nioc-qualifies-29-firms-for-tender-round.html)

In the day, National Iran Gas Exports Company and the Korean Gas Corporation signed a memorandum of understanding (MoU), under which Iran would export liquefied natural gas to South Korea, and the two countries would cooperate on exchanging related experiences in the gas industry. (May 4, 2016). (http://www.xinhuanet.com/english/2016-05/05/c_135334640.htm)

"State-run Korea Gas Corp (KOGAS) , the world’s second-largest single buyer of liquefied natural gas (LNG), is interested in Iranian and U.S. natural gas as LNG imports from the two countries are seen possible without destination restrictions, its chief executive said on Friday." (February 2017) (https://www.reuters.com/article/southkorea-lng-kogas/kogas-interested-in-iranian-u-s-natural-gas-to-secure-stable-supply-idUSL4N1FU5UY)

As of December 2020, Rhode Island continues to list Korea Gas as an Iran scrutinized company for active involvement of at least $20-50 million in Iran's energy sector. The company's subsidiary, Korea Gas Technology Company, along with other South Korean companies has signed an agreement with the National Iranian Gas Company to build a small scale liquefied natural gas plant in Iran. (Business Standard, 06/19/2017) (http://data.treasury.ri.gov/dataset/c56b9795-4c0b-4749-80a8-78418efc1492/resource/9d4e0eae-3bb0-4ed2-977a-db21ad57ea96/download/RhodeIslandIranContract2020.xlsx)

In 2018 the U.S. state of Iowa listed Korea Gas Corporation on its Iran prohibited companies list rendering Korea Gas ineligible for investment and/or state contracting. (https://www.ipers.org/sites/default/files/media/2017%2009%20Iran%20Prohibited%20Companies%20List%2009-30-17.pdf)