Korea Gas Acquires Stake in BC Shale Project

Korea Gas Corp., a Korea-based producer and distributor of liquefied natural gas (LNG), will acquire, from Mitsubishi Corp. of Japan, a 5% stake in the Cordova Embayment shale gas project in northeastern BC. According to a Mitsubishi spokesperson, the offer price was not being made public. The Cordova Embayment is run by a joint venture between Mitsubishi and Calgary-based Penn West Exploration.