(Corrects first bullet point in story transmitted on Oct. 9 toshow Gazprom to sell 1 mln T of LNG, not 2 mln)
* Gazprom M&T to sell 1 mln T of LNG to KOGAS in 2013, 2014
* Gazprom already ships 1.6 million tonnes of LNG a year toKOGAS
MOSCOW, Oct 9 (Reuters) - Gazprom said on Tuesday it hassigned an agreement to sell liquefied natural gas (LNG) to KoreaGas Corporation (KOGAS), as it strengthens its position in Asianmarkets.
Gazprom Marketing & Trading Singapore, a wholly-ownedsubsidiary of Gazprom , said it will supply up to eightcargoes of LNG a year to KOGAS in 2013 and 2014, totalling up to1 million tonnes over the two years.
Gazprom already ships 1.6 million tonnes of LNG a year toKOGAS from its Sakhalin-2 project, which produces 10 milliontonnes of LNG annually. Gazprom M&T would not necessarily sellGazprom-produced gas but the contract could help it to secure afoothold in Asia, where it wants to sell gas from the giantfields of Eastern Siberia.
"This agreement also provides a good basis for furtherexpansion of our commercial portfolio and realising our ambitionto be the leading LNG marketer in Asia Pacific," FredericBarnaud, executive Director for LNG & Shipping at Gazprom M&Tsaid in the company's statement.
Gazprom has been increasingly looking to diversify itsmarkets away from Europe, its leading source of revenue butwhere gas demand is sagging. Earlier this month, Gazprom M&Tsigned a deal to sell LNG to India's GAIL for 20 years.
Gazprom also harbours plans to expand production of LNG,frozen gas which is easier to market globally on tankerscompared to pipeline gas, the backbone of the company'soperations.
Gazprom plans to set up LNG production at the Pacific portof Vladivostok, which may come on stream by 2020 with productionranging from 10 million tonnes to 20 million tonnes.
Its plans to establish LNG plant in North-West of Russia onthe basis of Shtokman giant offshore deposit, has so far failedto materialise due to costs overrun.
(Reporting by Vladimir Soldatkin, editing by William Hardy)
Keywords: GAZPROM KOGAS