The Philippines Department of Energy has admitted it was in the advanced stages of negotiations w...
The KOGAS consortium includes the likes of Seoul City Gas, LG International Corp and Daesung Industrial Co Ltd.
In a statement Philippines Energy Secretary Vincent Perez said, “Our negotiations are in advanced stages now with the Korean group, but there is still no agreement to date.” He did not elaborate further.
It is understood around 4.9% is up for grabs with a US$300-US$400 million price tag attached to it. The government’s stake is being held by PNOC-Exploration Corp.
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