Our work in South Korea

Our relationship with the country was initially established by Enrico Mattei, though our most recent activities date back to 2013. We now operate in the country’s Global Gas & LNG Portfolio and R&M and Chemical sectors.


LNG sales

Between 2013 and 2017 we signed a trilateral agreement with the Korea Gas Corporation and Japan’s Chubu Electric Power Company for the sale of 1.7 million tonnes of Liquefied Natural Gas (LNG). The agreement, which allows us to strengthen our presence in the Far East, will see us deliver the gas in our portfolio to South Korea and Japan based on their needs. 

Elastomer production

We launched a new integrated industrial complex for producing elastomers in the city of Yeosu in late 2017 with a view to boosting the chemicals sector on an international scale. The plants belonging to Lotte Versalis Elastomers (the joint venture created in 2013 between Versalis and Lotte Chemical - a major petrochemicals company based in South Korea) were built in 26 months and in keeping with the principles of sustainability. The joint venture capitalises upon not only Versalis's technologies, industrial expertise and commercial network but also its integration with the Lotte Chemical site, providing raw materials and industrial services. The industrial complex has a nominal capacity of 200,000 tonnes of elastomers (EPDM, - ethylene propylene diene rubber -, s-SBR - solution polymerised styrene-butadiene rubber - and BR - polybutadiene rubber) per year with production flows aimed at premium applications primarily including tyres and other automotive components, styrenic polymer modification and technical parts.