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S.Korea's SK Group signs deal with GE to jointly develop U.S. shale gas

Published 06/29/2017, 09:59 AM
Updated 06/29/2017, 09:59 AM
© Reuters.  S.Korea's SK Group signs deal with GE to jointly develop U.S. shale gas
  • South Korean energy conglomerate SK Group signs an MoU with General Electric (GE +0.9%) to jointly develop U.S. shale gas fields as it seeks to expand its presence in the U.S. shale gas sector.
  • SK says the partnership with GE will help it bring U.S. liquefied natural gas to South Korea and sell it to other countries amid growing U.S. LNG exports.
  • SK says it plans to invest 1.8T won ($1.6B) in the U.S. over the next five years and would seek up to 5T won in potential investment opportunities.
  • Additionally, Korea Gas, the world's second biggest LNG buyer, says it signed an MoU with U.S. companies including Exxon Mobil (XOM -0.1%) and Energy Transfer (ETE +2.1%) for cooperation in U.S. LNG projects.
  • Now read: Exxon: Leaving The Downcycle Behind


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