Canada and South Korea discussed the future of their cooperation in liquefied natural gas development in British Columbia during a forum in Seoul on Friday.

Korean Minister of Trade, Industry and Energy Yoon Sang-jick and British Columbian Premier Christy Clark were among those attending the forum, held to outline the two countries’ natural gas priorities and natural gas development projects in British Columbia.

The forum was also attended by several high-ranking government officials and key industry leaders.

Clark provided a background on BC’s natural gas and LNG opportunities and its development strategy.

“British Columbia offers close proximity to Asia, a stable business environment and strong regulatory framework which provides investors with the confidence needed for long-term planning,” Clark said during the forum.

In relation to exploiting future energy opportunities, the Korea Gas Corporation and the University of British Columbia signed an MOU on research and development projects in hydrogen, fuel cell technology and catalysis, as well as in natural gas production, processing and liquefaction technologies.

The oil and gas industry in British Columbia’s northeastern region is a key growth area. The region attracts international investors from around the world, including South Korea. Key areas of investment interest include innovative technology and research infrastructure.

British Columbia and South Korea have been building strong bilateral ties in recent years, particularly in terms of commercial and trade ties, as well as in education and people-to-people exchanges. South Korea is now British Columbia’s fourth-largest trading partner and third-largest export market in Asia.

(ephilip2011@heraldcorp.com)