The SHWE Gas Movement: For a Sustainable Future in a Free and Democratic Burma

For a Sustainable Future in a Free and Democratic Burma

 

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Shwe Corporate Stakeholders:

The Korean Gas Corporation (KOGAS)

(10% share in the A-1 gas block) 

Company Profile

Korea Gas Corp. (KOGAS) was established 1983 and is the world's leading importer of liquified natural gas. (LNG) Initially fully government-owned, the South Korean Government now holds the largest stake at 26.86%, while the remaining shares went to Korea Electric Power Corp. (KEPCO) (24.46%), local governments (9.86%) and individual investors (38.82%,) (About one-third of individual investment is foreign). [1]

For most of its natural gas demands, South Korea, the world's second largest LNG consumer after Japan, relies on imported LNG. Most of its LNG imports originate in Qatar, Indonesia, Malaysia and Oman. [2]

In 2002, KOGAS supplied a total of 17.83 million tons of LNG to its customers, an increase of 2.1 million tons from 2001. [1] The company states that its purpose is to contribute "to the improvement of social welfare and the convenience of people's life through the long-term stable supply of natural gas". [3]

KOGAS and Shwe

The Shwe gas project is the company's first investment in Burma. KOGAS first became involved when Daewoo corporation assigned the company a 10% share in November 2001, but the company may attempt to acquire a higher stake, as it expects to find more gas in the deposit than initially projected. [4]

There have been no reports of human rights abuses in KOGAS's other overseas projects, but with their investment in  Indonesia and Malaysia, the company nevertheless supports governments who have been criticised internationally for their human rights record and violations of workers' rights.

Already, KOGAS is listed on the 'Business and Human Rights Resource Centre's list of companies investing in Burma [5] and on the International Trade Union Movement's list of multinationals with links to Burma. [6]

Take Action!

Contact:

Kim, Myung-Kyu

Korea Gas Company

215, Chongja-dong, Pundang-gu, Songnam

Kyonggi-do. 463-754

Fax: +82-31-710.00.79

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Sources:

[1] http://times.hankooki.com/lpage/tech/200308/kt2003081718275711790.htm

[2] http://www.eia.doe.gov/emeu/cabs/skorea.html

[3] http://www.kogas.or.kr/

[4] http://www.gasandoil.com/goc/company/cns42496.htm

[5] http://www.business-humanrights.org/Categories/ IndividualCompanies/K/KoreaGasCorporation

[6] http://www.global-unions.org/burma/company.asp?ID=399

 

 
 
 
 
 

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