On working meeting between Alexander Ananenkov and Ko Jung-Sik
Release
Gazprom’s Headquarters today hosted a working meeting between Alexander Ananenkov, Deputy Chairman of Gazprom’s Management Committee and Ko Jung-Sik, Director for Energy with the Ministry of Commerce, Industry and Energy of the Republic of Korea. The meeting convened on the initiative of the Korean side.
Alexander Ananenkov and Ko Jung-Sik debated Gazprom’s potential natural gas deliveries to the Republic of Korea from an integrated gas transmission network being established in eastern Russia as well as interaction deepening between Gazprom and the Korea Gas Corporation (KOGAS). In addition, the meeting addressed the development of a Russian-Korean Intergovernmental Agreement for cooperation in the gas industry.
Alexander Ananenkov and Ko Jung-Sik expressed a common opinion on the need to promote intensive dialogue within the Gazprom and KOGAS’ joint working group.
“The South Korean needs in Russian natural gas have been taken into account in our developing the Program on setting up an integrated gas production, transmission and supply network in Eastern Siberia and the Far East. The Program is primarily targeted at the Sakhalin Island offshore development and gas transmission network construction,” – noted Alexander Ananenkov at the close of the meeting.
Background
Due to limited natural gas reserves, the Republic of Korea is currently substantially dependent on LNG imports. The country counts on a manifold gas transmission network linking onshore LNG terminals with major consumption provinces, thus, largely contributing to both the power generation sector and industry & population being large gas consumers.
Founded in 1983, the Korea Gas Corporation (KOGAS) is 62% state-run. KOGAS’ major business lines are the construction and operation of LNG-reception terminals and gas distribution stations, implementation of international gas projects and research for the gas industry. The company owns three LNG-reception terminals and a 2,442-km-long gas pipeline network.
On 12 May 2003, Gazprom and KOGAS entered into a 5-year Cooperation Agreement, setting up a permanent joint working group.
Information Directorate, OAO Gazprom