Gas Buyers Poised to Commit on South Korea Atomic Shift: Energy
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South Korea’s plan to almost halve its use of atomic power will prompt the world’s second-largest buyer of liquefied natural gas to sign new supply deals for the fuel, according to Woodside Petroleum Ltd.
The shift away from nuclear in Korea will give buyers such as Korea Gas Corp. confidence to commit to gas to comply with government policies, said Peter Coleman, the chief executive officer of Woodside, Australia’s second-largest oil and gas producer. The company plans to decide in mid-2015 whether to proceed with its Browse project that would liquefy gas on a ship offshore Australia for delivery by vessel.