-- Korea Gas Corp., the world's biggest buyer of liquefied natural gas, plans to increase its production of natural gas from overseas fields by more than 17-fold in the six years through 2012.

The state-run utility wants to boost annual output to 3.5 million metric tons a year by 2012, from 200,000 tons a year in 2006, the Ministry of Knowledge Economy said in an e-mailed statement today.

South Korean gas demand may rise 3.5 percent annually to 40.35 million tons by 2020 from 24.84 million tons in 2006, government estimates show, as the country increases the number of power stations that burn the cleaner fuel. Asia's fourth- largest economy imports all of its oil and gas requirements.

On June 9, the government said it aims to source about 772,000 barrels a day, or 24.7 percent of its oil and gas imports, from South Korean-owned fields by 2012, up from the current 4.2 percent.