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Roadmap on gas supplies to Korea to be signed between Gazprom and Kogas soon

Gazprom's group of experts led by Alexander Ananenkov, Deputy Chairman of the Company's Management Committee is finishing its business trip to the Far East.

Roadmap on gas supplies to Korea to be signed between Gazprom and Kogas soon Roadmap on gas supplies to Korea to be signed between Gazprom and Kogas soon

Gazprom's group of experts led by Alexander Ananenkov, Deputy Chairman of the Company's Management Committee is finishing its business trip to the Far East. Today in Khabarovsk Alexander Ananenkov moderated a working meeting with Choo Kangsoo, President – CEO of Kogas. It was highlighted during the meeting that Gazprom and Kogas would promptly sign a Roadmap outlining the plan of top-priority actions needed for implementing the project for Russian pipeline gas supply to Korea. The parties also discussed the global energy market trends and the outlook of further partnership deepening in the oil and gas sector. Special attention was paid to the cooperation between the companies within the Eastern Gas Program. Gazprom's expert groups take regular trips to the Far East. A group is made up of top managers from the Company, its specialized subdivisions, subsidiaries and contracting agencies. The trips are primarily aimed at monitoring the execution of the projects on shaping the Unified Gas Supply System in Eastern Russia on the basis of the Company's resource base 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 Gazprom and Kogas signed the Agreement to jointly study the natural gas supply project. The Agreement stipulates studying options for natural gas supply from the terminal point of the Sakhalin – Khabarovsk – Vladivostok gas transmission system to Korea. On June 23, 2009 within the working visit by Gazprom's delegation to the Republic of Korea Alexey Miller, Chairman of Gazprom Management Committee and Choo Kangsoo, President – CEO of Kogassigned the Agreement to jointly explore the gas supply project. The said Agreement was signed as an extension to the Intergovernmental Agreement of Cooperation in the Gas Industry and the Memorandum of Understanding on natural gas supplies from Russia to Korea between Gazprom and Kogas. The Agreement stipulates studying options for natural gas supply from the terminal point of the Sakhalin – Khabarovsk – Vladivostok gas transmission system to Korea.

Source : Neftegaz.RU