E1 Corporation

 

South Korea

According to the company website, E1 Corporation was founded in 1984 under the name Yeousu Energy Co. ltd. The company changed its name to E1 Corporation in 2004. Today, the company covers over 50 percent of the liquefied petroleum gas (LPG) import demand in South Korea (E1 Corporation Website, accessed July 15, 2013).

Date: April 2011

Deal: According to Platts, E1 Corporation purchased 44,000 metric tons (mt) of LPG from Iran’s state – owned Petrochemical Commercial Company (PCC) set to load in May 2011. The product was to be loaded at either the port of Bandar Imam Khomeini or the port of Assaluyeh. The cost of the deal was unavailable (Platts Commodity News, April 1, 2011). (Accessed via Factiva)

Date: June 2011

Deal: In June 2011, Platts reported that E1 Corporation purchased 44,000 mt of LPG from Iran’s PCC. The LPG was a 3 to 1 propane-butane mix. The price of the purchase was unavailable (Platts Commodity News, June 13, 2011). (Accessed via Factiva)

Date: May 2013

Deal: According to Platts, E1 Corporation purchased 44,000 mt of LPG from Iran’s PCC in May 2013. Trading sources cited by Platts claim that the tender was awarded at a price in the high $40s/mt. The purchase by E1 is said to be the first tender issued and awarded by the PCC since September 2012 (Platts, May 12, 2013).

Ties to U.S. Business:

According to USASpending.gov, and the Federal Procurement Database, E1 Corporation has not received an U.S. government contracts in the last ten years. (USASpending.gov, accessed July 15, 2013; Federal Procurement Database, accessed July 15, 2013).

Last Updated: July 23, 2013