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What is Gas to Power(GTP)

  • GTP is a total package business that supplies and sells electricity produced through combined thermal power generation using natural gas as a fuel. It covers everything from the purchase/procurement of LNG, the main material, to the construction/operation of LNG terminals and power plants (BOO, Build Own Operate).
  • KOGAS is promoting the GTP business by partnering with local companies, domestic power plants, and energy companies in Southeast Asian countries including Vietnam and Thailand, in order to secure competitiveness in the LNG business, and to prepare for changes in the business considering the status of LNG as a bridge fuel. KOGAS plans to establish a bridgehead to advance into LNG power generation centered on overseas emerging markets.

GTP Value Chain

LNG Carriers > LNG Plants > Power Plants > Electricity Sales > Creating Profits

Background of GTP Project

Energy companies are seeking sustainable growth amid changes in the market environment through a convergence model between industries, and by diversifying into liquefaction-acquisition-supply facilities, city gas, and power generation. Energy-importing countries such as those with emerging markets, drive global natural gas demand, and increasingly place orders for package-type integrated power generation (Gas to Power) rather than separate orders by industry.

Business Goal

Long-term Management (Vision 2030) Strategic Goal: “New LNG business sales of KRW 2.2 trillion”

  • Strategic task: Participation in overseas GTP business sales―KRW 1,231 billion
  • Other Indicators: Operating profit of KRW 61.9 billion, new LNG supply of 2.1 million tons/year

Business Structure

Expected Effects

  • Expanding business areas, creating synergies by linking businesses, and securing new sustainable growth engines
  • Contributing to the national economic growth and advancement of domestic companies through business diversification of global energy companies
  • Securing flexibility in LNG trading by creating new LNG demand and expanding LNG suppliers
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