SEOUL (Dow Jones)–State-run utility Korea Gas Corp. (036460.SE), or Kogas, will invest $1.1 billion to jointly develop natural gas fields in Canada with local firm Encana Corp. (ECA, EDCA.T), Yonhap News Agency reported Sunday, citing the company.
| Under the deal, Korea Gas will acquire a combined 50% stake in three oil fields in northeast British Columbia and will start extracting 1.1 million tons of natural gas every year for 40 years beginning in 2017, the company said. |
| It also said Korea Gas will invest $1.1 billion to build gas exploration and production facilities. |
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