Page 12 - Korea Gas Corporation 40 years

LNG Import and

Inception of

Korea Gas Corporation

KOREA GAS CORPORATION 40 YEARS
Oil Crises Ushered in Age of Natural Gas
The two oil crises in the 1970s caused major countries around
the world to stockpile crude oil in order to overcome the
energy crisis and to pay attention to new energy sources to
replace oil. During the same period, Korea, which was aiming
strong growth through its economic development plans, tried
to diversify energy sources to replace oil and carried out a
large-scale natural gas import project.
In October 1980, the Korean government finalized the Basic
Policy on LNG Imports and designated Korea Electric Power

1974. The first oil crisis and Korean people
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