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Korea Gas Corporation selling half its stake in Akkas gas field.

Korea Gas Corporation selling half its stake in Akkas gas field.

South Korea’s government owned Korea Gas Corporation (KOGAS) plans to sell almost half of its stake (47 percent) in Akkas gas field, which they own 100 percent. 

Due to the country’s increasing debts, this decision was recently mandated with immediate effect.

KOGAS was originally in partnership with KazMunaiGas (KMG) but in 2011 they suddenly pulled out and left KOGAS as sole investor and operator. 

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