[Alpha Biz=(Chicago) Reporter Paul Lee] The Export-Import Bank of Korea extends financial support for the Australian Barossa Gas Project pushed by the SK E&S. With some business licenses suspended due to conflicts with Aboriginal Australians, the SK E&S will ease the financial burden.

According to the industry on the 31st, the Export-Import Bank of Korea decided to extend the 330 million dollars (430 billion won) of financial support that was provided to the SK E&S. The application period is until November. After providing financial support to the SK E&S Barosa gas field in May last year, the Export-Import Bank of Korea chose to extend the support in May this year following November of the same year. Mercury officials explained that the decision was made to secure liquefied natural gas (LNG) in a stable manner.

The extension of financial support eased the burden on SK E&S's Barossa Gas Project business. The core of this project is to produce low-carbon LNG by applying carbon capture storage (CCS) technology.

 

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