Gazprom and Korea Gas Sign MoU for Gas Supply From Russia to Korea
October 2, 2008
Russian oil and gas major Gazprom and Korea Gas have signed a memorandum of understanding regarding natural gas supplies from Russia to Korea.
The memorandum of understanding stipulates the possibility of laying a pipeline for natural gas supplies to Korea across the Korean Peninsula, as well as performing joint surveys on this route.
The parties agreed to proceed with the commercial negotiations and to prepare the investment rationale for the project before the end of 2010.
A decision was also taken to explore the possibility of implementing projects in the area of gas processing, construction of a gas chemicals plant and a liquefied natural gas plant in Russia’s Far East.