Support The Moscow Times!

Korea Pipeline Plans Proceed

Gazprom has signed preliminary agreements with South Korea and North Korea on building a pipeline across the peninsula to boost exports to Asia.

North Korean Oil Industry Minister Kim Hui Yong signed a memorandum of understanding with Gazprom chief executive Alexei Miller in Moscow, agreeing to set up a working group to develop the plan, Gazprom said Thursday. Miller and Korea Gas Corp. chief executive Choo Kang-soo agreed on a "road map" in a separate meeting at Gazprom's headquarters.

Gazprom is seeking consent from North Korea to build a link that would carry as much as 10 billion cubic meters of gas a year across its territory to South Korea. Russian gas supplies to Kogas, as the South Korean gas company is known, may start in 2017, Gazprom has said.

(Bloomberg)

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.