Other Source of Energy

Ecoseed has a report on a large offshore wind farm planned for South Korea - South Korea to build $9 billion offshore wind farm by 2019.

South Koreas Korea Electric Power Corporation will build a $9 billion, 2.5-gigawatt offshore wind farm off the southwest coast of the Korean peninsula by 2019, the Ministry of Knowledge Economy said in a statement.

According to the ministry, the 51-percent government-owned Kepco will be buying wind turbines from eight local suppliers including Doosan Heavy Industries and Construction, Daewoo Shipbuilding and Marine Engineering, and Hyundai Heavy Industries.
The wind farm project will be built in three phases, beginning with a $355-million demonstration project by 2014 which will consist of turbines having the capacity of between 3 and 7 megawatts.

The second phase 400-MW demonstration project will have an investment of $1.42 billion by 2016. To complete the third phase is a $7.26-billion investment to build a 2-GW wind farm by 2019.

The Australian reports that Korean utility Kogas is soon to sign up to purchase around $84 billion of natural gas from offshore Australian developments - Shell’s Prelude floating LNG project and the Inpex / Total owned Ichthys field - Australia in 84 billion dollar LNG deal with South Korea.

AUSTRALIA is set to supply millions of tonnes of liquefied natural gas to South Korea over the next 20 years under an historic deal worth billions of dollars.



South Koreas government last night approved two deals worth $US84 billion sought by the countrys state-run Korea Gas Corporation to import more than five million metric tonnes per year of LNG, the bulk of which will come from Australia.



The deals, the biggest in South Koreas history, are with Royal Dutch Shell Plc and Total SA.

The state-run utility will buy 3.64 million metric tons of LNG a year from Shells Prelude gas project in Australia for 26 years starting 2014, the Ministry of Knowledge Economy said in a statement. It will also buy 2 million tons of the fuel a year from Totals Ichthys field gas projects in Australia and other fields in Nigeria, Norway and Egypt for 18 years starting 2014.



The shipments are valued at $US84 billion and are equivalent to 17 percent of Koreas gas consumption in 2010, according to the statement.