The Gazprom headquarters hosted today a working meeting between Alexander Ananenkov, Deputy Chairman of the Company’s Management Committee and Kim Yong Jae, Ambassador Extraordinary and Plenipotentiary of the Democratic People's Republic of Korea to the Russian Federation.

The meeting participants addressed the current issues of the Russian-Korean cooperation in the gas sector. In particular, the parties discussed the practical approaches to implementation of the project for natural gas transmission from Russia to the Korean Peninsula outlined in the Memorandum of Understanding between Gazprom and North Korea’s Ministry of Oil Industry.

Background

On September 15, 2011 aMemorandum of Understanding was signed between Gazprom and North Korea’s Ministry of Oil Industry. According to the document, the parties agreed to establish a Joint Working Group between Gazprom and North Korea’s Ministry of Oil Industry to develop the bilateral cooperation embracing the project for natural gas transmission from Russia to the Korean Peninsula.