Gazprom, Kogas to ink 'road map' for gas shipment to Korea soon - Gazprom
MOSCOW. Aug 5 (Interfax) - Russian gas giant Gazprom and South Korea's Kogas plan to sign off on a 'road map' of priority measures needed for shipment of Russian pipeline gas to Korea in the near future, Gazprom said.
This step was discussed during a working meeting between Gazprom deputy chief Alexander Ananenkov and Kogas President and CEO Choo Kang-soo, Gazprom reported.
Also discussed were development trends on the global energy-resource market and prospects for the further development of partnership in oil and gas. Special attention was given to company cooperation in the realization of the Eastern (Vostochny) gas program.
Gazprom and Kogas signed in May 2003 a five-year cooperation agreement that was extended for another five years in 2008. This agreement covers a wide range of points, among them the possibility of Russian natural gas being delivered to Korea. The two companies set up a permanent working group for the purpose of implementing the agreement.
In October of 2006, Seoul hosted the signing of a gas-cooperation agreement between the Russian and Korean governments. Gazprom and Kogas inked a memorandum of mutual understanding regarding Russian natural gas shipment to Korea on September 29 two years later.
Gazprom CEO Alexei Miller and his Kogas counterpart also signed in June 2009 an agreement concerning joint research for the gas-supply project. This agreement involves the study of options for the organization of gas deliveries from the end-point of the Sakhalin-Khabarovsk-Vladivostok gas transmission system.