Gazprom and Kogas to sign Road Map for gas supplies to Korea

The Deputy Chairman of Gazprom A. Ananenkov has hold a working meeting with the President, the CEO of Kogas, Chu Kang Su within the bounds of his working trip to Far East. In the near future the companies are going to sign a Road Map settling the plan for the priority measures necessary for the realization of the project for Russian pipeline gas supplies to Korea. The sides discussed as well the tendencies for the development of the global energy resources market and the prospects for further development of partnership in the oil and gas sphere. They put special attention into cooperation in Eastern Gas Program.

The group of Gazprom specialists hold visits to Far East on a regular basis. The group consist of the representatives of the management of the company and its profile subdivisions, branches and contractors. These trips are aimed to provision of well-timed realization of the projects for creation of the Single Gas Supplying System at the Russian East based on the company's resources base.

On May 12th 2003 Gazprom and Kogas signed the agreement for cooperation for 5 years, and in 2008 it was prolonged for the next 5 years. The agreement touches a wide rank of issues including possible gas supplying to Korea. The sides have founded the Joint working group for the agreement realization.

On October 17th 2006 the Governments of Russia and Korea signed the agreement for cooperation in gas industry sphere under which Gazprom and Kogas became the authorized bodies for organization of Russian gas supplies to Korea. On September 29th 2008 Gazprom and Kogas signed the Memorandum for mutual understanding in Russian gas supplying to Korea. On June 23rd 2009 the Chairman of Gazprom and President, the CEO of Kogas Chu Kang Su signed the agreement for the joint elaboration of gas supplies project. It presupposes analysis of the variants for gas supplies from the final point of Sakhalin-Khabarovsk-Vladivostok to Korea.

Translated by Nadezhda Poltoratskaya

Source: http://www.oilcapital.ru/news/2011/08/051139_170505.shtml

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