Global energy leader, GS Energy
GS Energy was incorporated on January 1, 2012 as a result of GS Holdings’ spinoff of its 50% stake in GS Caltex. Accordingly, GS Energy assumed certain key growth assets previously owned by GS Caltex including, Exploration&Production, electric power, district heating and gas distribution, solidifying GS Energy as a new integrated energy-specialized holding company.
As a first step, GS Energy has focused its resources on strengthening its presence in the domestic electric power and district heating sectors. Given our operational experience and know-how through our subsidiary GS Power, GS Energy expanded its district heating portfolio through acquisitions of Cheongna Energy in 2014 and Incheon Total Energy in 2015. Further, GS Energy acquired stakes in two Liquefied Natural Gas (LNG) electric power plants: Shin Pyeongtaek Power and Dongducheon Dream Power.
Given these newly acquired downstream demand sources, GS Energy sees further integration in the LNG space as fundamental to long term growth. In January 2017, GS Energy commenced operations at its newly constructed LNG regasification terminal in South Chungcheong Province. Further, GS Energy has set up an overseas trading branch to facilitate the procurement of LNG. GS Energy also aims to optimize operational performance of its natural gas distribution subsidiaries Haeyang and Seorabol City Gas.
Our Exploration&Production businesses include the development of oil & gas projects from the Middle East to the Americas and Southeast Asia. In May of 2015, GS Energy was selected to acquire a 40-year participating interest in the ADCO Onshore Concession. Consequently, GS Energy successfully acquired the largest oil production asset in the history of Korean E&P businesses. Further, GS Energy has a stake in the development of the UAE Concession Areas 1,2,3 and a US unconventional production asset (Nemaha).
GS Energy will continue to concentrate its resources and capabilities to further develop an integrated business model to capture synergies among our various business segments and ultimately achieve long term sustainable growth.
FACTS & FIGURES
Date of EstablishmentJanuary 3, 2012
CEO Young-Bong Ha
2012. 01 GS Energy Establishment
2012. 03. UAE E&P Project Participation
2012. 05. USA Nemaha E&P Project Participation
2012. 06. Acquisition of E&P, G&P, Green Growth assets from GS Caltex
2013. 02. Boryeong LNG Terminal Establishment (Joint Venture in August)
2014. 06. 35% acquisition of Shin Pyeongtaek Power Co., Ltd.
2014. 07. 30% acquisition of Cheongna Energy Co., Ltd.
2014. 08. 10% acquisition of Dongducheon Dream Power Co., Ltd.
2015. 03. 50% acquisition of Incheon Total Energy Co., Ltd.
2015. 05. 3% acquisition of U.A.E. ADCO Onshore Concession
2017. 01. Boryeong LNG Terminal begins commercial operation
2017. 04. 9.74% acquisition of Indonesian coal mining company, PT BSSR Tbk