Korea Gas Corporation and EnCana Corporation to Develop Gas Fields in BC

Korea Gas Corporation, a state-run gas company, has signed an agreement with Calgary-based natural gas producer, EnCana Corporation, whereby the companies will jointly develop and operate three natural gas fields in BC. Korea Gas Corp. has acquired a 50% share in the gas fields. Over the next five years Korea Gas will invest US$1.1 billion in the project to extract 20 million tons of gas over 40 years beginning in 2017.