Dominican Republic and KOGAS evaluate opportunities to transform energy and transportation matrix to natural gas

MICM statement

SANTO DOMINGO, RD. - The Ministry of Industry, Commerce and Mipymes (MICM) and the state-owned natural gas company of South Korea, Korea Gas Corporation (KOGAS), analyzed the perspectives and opportunities of transformation of the electricity and fuel generation matrices in the Republic Dominicana, as part of the Government's vision to complement the country's electricity and mobility with other alternatives.

MICM Minister Víctor Bisonó received Lee Woojinm, General Manager and Manager of the Department of Business and Integration of the Electric Power Commercial Development Team in his office, together with Kiho Moon, Head of the KOGAS Business Department, with whom he exchanged views on the Government's plans to promote the consumption of natural gas.

Bisonó said that from the Dominican State there is a firm decision to diversify the energy generation matrix towards Natural Gas over fossil fuels, which will mean greater consumption of natural gas.

“As the body that regulates and draws up public policies in this sector, we can say that investments will always be welcome in our country and even more so when they contribute to continue advancing in this diversification and towards the goal that Dominicans have more and more access to fuels that are just as efficient and friendlier to the environment ”, stated Bisonó.

With the transformation of the country's fuel matrix, the government headed by President Luis Abinader seeks to reduce pollution, promote greater efficiency and produce significant savings in foreign currency.

Since 2018, KOGAS has become the world's largest natural gas importer, operating four regasification terminals and 4,945 kilometers of natural gas pipelines in South Korea.

The company has a stake in the Prelude facility in Australia, the world's largest floating production structure, along with investors Shell, Inpex Corporation and CPC Corporation.

During the meeting, Minister Bisonó was accompanied by the MICM Chief of Staff, Jonathan Bournigal, and Vice Ministers Carlos Flaquer, of Free Zones and Special Regime, Vilma Arbaje, of Foreign Trade, and Ramón Pérez Fermín, of Internal Trade.