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GAZPROM

September 15, 2011

Gazprom and Kogas sign Roadmap on project for pipeline gas supply to Korea

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Choo Kangsoo, President  CEO of Kogas.

Special attention was paid to the project for natural gas supply from the Russian Federation to the Republic of Korea via the Democratic People's Republic of Korea.

Alexey Miller and Choo Kangsoo signed a Roadmap on the said project and discussed the practical ways of the project implementation.

Alexey Miller informed Choo Kangsoo that Gazprom had commissioned the first startup complex of the Sakhalin  Khabarovsk  Vladivostok gas transmission system and created all necessary conditions for arranging Russian gas supplies to global markets from the vicinity of Vladivostok.

In addition, Gazprom expressed approval of Choo Kangsoo candidacy for the post of the International Gas Union President for the period 2015 through 2018.

Background

On May 12, 2003 Gazprom and Korea's Kogas entered into the five-year Agreement of Cooperation, which was extended for another five-year term in 2008. The Agreement embraces a wide spectrum of issues including the study of possible ways to deliver Russian natural gas to Korea. To implement the Agreement the parties set up the permanent Joint Working Group.

On October 17, 2006 the Government of the Russian Federation and the Government of the Republic of Korea signed the Agreement of Cooperation in the Gas Industry identifying Gazprom and Kogas as the companies authorized for overseeing natural gas deliveries from Russia to the Republic of Korea.

On September 29, 2008 Gazprom and Kogas signed the Memorandum of Understanding on natural gas supplies from Russia to Korea.

On June 23, 2009 as part of the working visit by Gazprom's delegation to the Republic of Korea, Alexey Miller, Chairman of the Company's Management Committee and Choo Kangsoo, President  CEO of Kogas signed the Agreement to jointly explore the natural gas supply project. In pursuance of the Agreement a final report was issued in 2010. The report studied options for natural gas supply from the terminal point of the Sakhalin  Khabarovsk  Vladivostok gas transmission system to Korea.

The September 2007 Order by the Russian Federation Industry and Energy Ministry approved the Development Program for an integrated gas production, transportation and supply system in Eastern Siberia and the Far East, taking into account potential gas exports to China and other Asia-Pacific countries (Eastern Gas Program). Gazprom was appointed by the Russian Federation Government as the Program execution coordinator.

 

 

 

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