Korea Gas Corporation
Korea Gas Corporation is a Korea-based company engaged in the production and distribution of natural gas. The Company imports natural gas and supplies it to gas utility companies, city gas companies and power generation plants in Korea. The Company is also involved in the building and operation of gas production facilities; the exploration, import and export of natural gas and liquefied natural gas (LNG); the construction and operation of LNG terminals; the operation of a natural gas distribution network, and other related activities. During the year ended December 31, 2007, the Company sold a total of 25.46 million tons of natural gas, of which natural gas for city use accounted for 58% of the Company's total revenue. On May 8, 2008, the Company established an Australia-based subsidiary company KOGAS AUSTRALIA PTY LTD, which is mainly engaged in the liquefied natural gas development businesses.
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Santos (ASX:STO) shares on Monday defied the market sell-off after the company said it had executed a A$2 billion bilateral bank loan facility. The new facility will be used to refinance its existing A$700 million of undrawn bilateral bank facilities that mature between 2011 and 2013 and to increase liquidity.
Australian market fell on Wednesday led by financial and energy stocks with low trading volume during the session. The gains in US and Europe markets in previous session fail to inspired investors as they feared more disappointing US economic data could come out.
Blue Energy Limited (ASX:BUL) has agreed to a request from Korea Gas Corporation (KOGAS)(SEO:036460) to extend the expiry date on the farmin option by 8 months to 28 February 2011.
Overnight the Wall Street was stronger after the bill overhauling the US healthcare system was passed. Asian stock markets were mostly lower on Monday as Reserve Bank of India unexpectedly increased the official interest rate by 25 basis points. The Indian central bank's move has raised fears of an earlier-than-expected rate hike in China. Hong Kong's Hang Seng Index fell 2.05 per cent and South Korea's Kospi was down 0.8 per cent. But Shanghai composite edged 0.2 per cent higher. Japanese markets, which were closed for public holiday yesterday, resume trading on Tuesday.
Asian markets mostly gained on Friday. Japan's Nikkei was 0.2 per cent higher on upbeat industrial output data. Hong Kong's Hang Seng Index rose 1.0 per cent, while South Korea's Kospi added 0.5 per cent. China's Shanghai Composite Friday fell 0.3 per cent. Today metal and resource shares in the regional markets may face pressure after the massive earthquake that hit Chile.
Yesterday the Australian share market ended lower. The benchmark S&P/ASX200 fell 36.3 points yesterday, or 0.91 per cent, at 3934.9, while the broader All Ordinaries was down 35.4 points, or 0.89 per cent, to 3933.6. Overnight the stronger commodities prices in New York may boost the local market today.
Asian share markets were bolstered on hopes for China's further stimulus measures, which are speculated to include market-supportive moves. Shanghai Composite Index surged 6.1% while Hong Kong's Hang Seng Index rose 2.5%. South Korea's Kospi was up 3.3%. Japanese and Singaporean markets also shrugged off the bad lead from Wall Street, gaining 0.9% and 1% respectively.
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