[KOGAS Press release/November 14, 2025] The Korea Gas Corporation (KOGAS) announced on Nov. 14 that it has signed a gas sale and purchase agreement with Korea Midland Power Co. (KOMIPO) under the Individual Pricing Scheme, securing another major client for its customized rate system.

More than 20 officials, including the CEOs of both companies, attended the signing ceremony.

Under the 10-year agreement, KOGAS will supply 200,000 tons of natural gas annually—totaling 2 million tons—to Units 2 and 3 of KOMIPO’s Incheon Combined Thermal Power Generation Plant from 2027 to 2036.

KOGAS said it won the contract thanks to its strong price competitiveness and stable supply capabilities. KOMIPO becomes the latest customer to join the Individual Pricing Scheme, following Korea Western Power in June and Korea Southern Power in September. The scheme, introduced in 2020, is designed to reduce supply costs by stabilizing natural gas supply and demand and improving facility utilization.

KOMIPO reportedly selected the scheme due to its high supply stability and cost advantages, a critical factor given that the Incheon plant plays a key role in ensuring power supply in the metropolitan area.

With this latest agreement, KOGAS has secured a cumulative annual contract volume of approximately 3.6 million tons and plans to continue expanding individual supply arrangements.

“This contract is a very meaningful step toward improving the operational efficiency of both companies and providing greater benefits to the public,” said KOGAS President Choi Yeon-hye. “KOGAS will continue to build a carbon-neutral energy portfolio and strengthen global market competitiveness while ensuring national supply-chain stability.”