GS Energy was incorporated on January 3, 2012 as a result of GS Holdings' spinoff of GS Caltex, its refining, marketing, chemicals and transportation arm, creating a new independent Korean energy company.
Subsequently, GS Energy assumed the high growth businesses previously operated by GS Caltex including, exploration & production and renewable energy operations. Further, by acquiring GS Caltex’s electric & gas utilities operations, GS Energy has solidified its position as an integrated energy-specialized holding company.
Value chain integration and operational agility are fundamental to GS Energy’s long term growth strategy. GS Energy is organized into four interrelated segments: Exploration & Production, Refining & Petrochemicals, Gas & Power and Green Growth.
GS Energy has been preparing for the important role of LNG by directly sourcing LNG, constructing a LNG receiving terminal and expanding our presence in the domestic electric power and district heating market.
GS Energy is also participating in E&P projects located around the world. In 2012, GS Energy signed a landmark exploration agreement for Concession Area 1,2,3 in the UAE, becoming the first Korean oil and gas company to gain a concession in the UAE since 1968. Subsequently, in 2015, GS Energy was selected to acquire a participating interest in the ADCO Onshore Concession.
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.