Korea Gas Corporation (KOGAS) is working to overcome a crisis through self-help efforts and investment in new businesses despite a double whammy of Middle East-driven geopolitical risk and mounting unpaid balances. The plan is to restore financial soundness while securing future growth engines to raise both public convenience and shareholder value.
On the 14th, KOGAS said it is focusing on companywide management efficiency to overcome its financial crisis. First, it reduced its liability ratio, which reached 500% at the end of 2022, to 397% as of the end of 2025.
It is also repatriating overseas funds. Over the past three years, it recovered about 3 trillion won in investment from overseas resource projects, including in Australia. It plans to recover more than 5 trillion won by 2030.
Despite the deteriorating financial environment, it paid dividends for two consecutive years. The 2024 dividend was 1,455 won per share, and in 2025 it was 1,154 won.
Alongside pushing overseas projects, it is investing in eco-friendly energy to lay a foundation for growth. KOGAS diversified its natural gas import sources to build a stable supply chain. Dependence on the Middle East fell from 45% in 2022 to 24% in 2025, and is expected to drop below 18% this year. In Aug. last year, it signed a new contract to import 3.3 million tons per year of U.S. LNG, securing price competitiveness.
Then in Oct. last year, it finalized investment in the Mozambique Coral Ⅱ project and plans to decide on final investments within the year for Canada LNG Phase 2 and Mozambique Rovuma.
By operating the LNG bunkering-only vessel Blue Whale, introduced in Korea for the first time in 2023, it is driving the commercialization of new businesses. It is building hydrogen production bases and 57 charging stations nationwide, including in Pyeongtaek, Gwangju and Changwon.
KOGAS President Choi Yeon-hye said, "Despite numerous challenges, we achieved stability in the natural gas supply without wavering and established a foundation for sustainable growth by finding new growth engines," adding, "We will leap forward as a company trusted by the public, consumers and shareholders alike."