South Korea to Invest in Canadian Gas Fields

South Korea''s state-run gas company plans to invest about $1.1 billion over the next five years in natural gas fields in Canada, according to the Associated Press. The Korea Gas Corp. signed a contract with energy company EnCana Corp. last week to jointly develop and operate three natural gas fields in British Columbia, the mass circulation Chosun Ilbo newspaper reported. KOGAS acquired a 50 percent stake in the gas fields, the report said. KOGAS plans to start extracting natural gas from the fields in 2017 after exploration and test production, the Dong-a Ilbo newspaper said.