Mayer Brown Advises SK Gas International on LNG Supply Arrangements in Relation to South Korea's Ulsan Gas Power Solution

With a power generation capacity of 1.2 gigawatts, the Ulsan GPS boasts high power generation efficiency by utilising the latest and most efficient gas turbines among domestic LNG power plants. The plant can provide electricity to approximately 2.8 million households. While LNG serves as the primary fuel for the Ulsan GPS, it is also able to switch to LPG as an alternative fuel in situations when LNG prices exceed LPG prices. This allows for stability in power production while managing global fluctuations in energy prices.

Looking ahead, the Ulsan GPS is expected to play a key role in carbon neutrality and greenhouse gas reduction, with plans to reduce environmental pollutants and steer towards carbon-free power sources.

Nick Kouvaritakis, global head of LNG and global co-head of Mayer Brown’s Energy practice, commented: “We are delighted to have worked with SK Gas International in reaching this landmark achievement. This further demonstrates the key role LNG continues to play in building energy security, growing energy markets and moving to a sustainable future.”

The Mayer Brown team was led by partner Nick Kouvaritakis and includes partner Sean Prior, counsel Nick Kendrick, and associates Kieran McLaughlan, Akaash Singh, Ling Ern Seow and Chris Ong.