Energy Update

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* But storage overhang, weakening economic growth dent outlook (Adds Brent, comment)

Jan 20 (Reuters) - U.S. pipeline company Kinder Morgan Inc swung to a fourth-quarter loss after a $1.15 billion writedown on natural gas assets, and said weak commodity and stock markets could bring more trouble.

Linde Group has been selected by Gazprom, Gazprom Pererabotka Blagoveshchensk and its general contractor NIPIgas as the licenser for cryogenic gas separation technology at the Amur Gas Processing Plant (Amur GPP), located in the far east of Russia.

CGG has announced that it will commence a multi-client airborne gravity and magnetic survey offshore South Africa. The Petroleum Agency of South Africa (PASA) has authorized the program which will extend across two blocks totaling approximately 78,000 line kilometers.

SEOUL, Jan 21 (Reuters) - South Korea aims to double exports to Iran in two years as construction and shipbuilding firms are seen benefiting from the lifting of international sanctions on the Middle East country, its finance minister said on Thursday.

OTTAWA, Jan 20 (Reuters) - Canada will adjust to lower commodity prices in three phases over the next five years, with the impact of lower incomes to be felt more strongly later on and economic growth by 2020 being 2 percent lower than it otherwise would have been, according to staff at the Bank of Canada.

* Venezuela suggests OPEC meeting; other delegates dismiss it

FRANKFURT, Jan 20 (Reuters) - German industrial biotech group Brain AG on Wednesday set a price range of 9 euros to 12 euros per share for its initial public offering (IPO), hoping to raise up to 48.3 million euros ($52.60 million) before its planned first day of share trading on Feb. 9.

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