Gazprom and Kogas confirm interest in project for pipeline gas supplies to Korea
Today in Dubronvik (Croatia) Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee met with Choo Kangsoo, President – Chief Executive Officer of Kogas within the IGU Council Meeting.
The meeting addressed further steps towards implementing the Roadmap on the project for Russian pipeline gas supplies to the Republic of Korea via North Korea.
The parties confirmed their interest in the pipeline gas supplies project meeting strategic interests of both countries and the region in general.
The meeting participants discussed the plan of top-priority actions as part of the commercial talks on the gas supply terms and conditions provided for in the Roadmap.
Based on the meeting results, the parties decided to hold another round of talks in late October – early November 2011.
On May 12, 2003 Gazprom and Korea's Kogas entered into the five-year Agreement of Cooperation which was extended for another five-year term in 2008. The Agreement embraces a wide spectrum of issues including the study of possible ways to deliver Russian natural gas to Korea. To implement the Agreement, the parties set up the permanent Joint Working Group.
On October 17, 2006 the Government of the Russian Federation and the Government of the Republic of Korea signed the Agreement of Cooperation in the Gas Industry identifying Gazprom and Kogas as the companies authorized for overseeing natural gas deliveries from Russia to the Republic of Korea.
On September 29, 2008 Gazprom and Kogas signed the Memorandum of Understanding on natural gas supplies from Russia to Korea.
On June 23, 2009 as part of the working visit by Gazprom's delegation to the Republic of Korea, Alexey Miller, Chairman of the Company's Management Committee and Choo Kangsoo, President – CEO of Kogas signed the Agreement to jointly explore the natural gas supplies project. In pursuance of the Agreement a final report was issued in 2010. The report studied options for natural gas supply from the terminal point of the Sakhalin – Khabarovsk – Vladivostok gas transmission system to Korea.
On September 15, 2011 Gazprom and Kogas signed the Roadmap on natural gas supplies from the Russian Federation to the Republic of Korea. The Roadmap represents a plan of top-priority actions needed for the project implementation.