The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Kim Hui Yong, Oil Industry Minister of the Democratic People's Republic of Korea.

The parties discussed the practical approaches to implementation of the project for natural gas transmission from Russia to the Korean Peninsula. The leaders of the two countries had reached an agreement on the project at the Ulan-Ude meeting in August 2011.

In particular, the parties agreed to establish a joint working group for the project implementation as well as for development of other promising areas of cooperation.

The parties highlighted the importance of full support of the gas pipeline construction by the governments of the two countries including a prompt preparation and signing of an intergovernmental agreement on the project implementation.

Based on the meeting results a Memorandum of Understanding was signed between Gazprom and North Korea’s Ministry of Oil Industry.