• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Does Toyota Know Something That We Don’t?
  • 6 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 3 days World could get rid of Putin and Russia but nobody is bold enough
  • 2 days America should go after China but it should be done in a wise way.
  • 6 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 5 days China is using Chinese Names of Cities on their Border with Russia.
  • 6 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 5 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 6 days Putin and Xi Bet on the Global South
  • 6 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 7 days United States LNG Exports Reach Third Place
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 11 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine

South Korea and Russia Discussions Progress on Natural Gas Pipeline

In light of Pyongyang provisionally green-lighting the project, South Korea and Russia will discuss a natural gas pipeline transiting North Korea later this month.

South Korean Foreign Ministry spokesman Cho Byung-jae told journalists, "A delegation of Russia's Gazprom recently visited North Korea and discussed the issue. And then, consultations between Gazprom and Korea Gas will be held this month. Based on the results of the consultations, I understand that there would be a new round of meetings between Russia and North Korea."

Last week South Korean Foreign Minister Kim Sung-hwan said that North Korea reacted "positively" to the construction, commenting, "We view that this project will be a win-win deal for both Koreas, providing a considerable cash revenue on one hand for North Korea, through which the pipeline will run, and large amounts of natural gas for us, which will help bring down the price of imported natural gas on the other," South Korea’s Yonhap news agency reported.

A number of issues remain to be resolved before construction, not the least of which is the fact that, as the Korean War ended with an armistice in 1953, North and South Korea still technically remain at war, 58 years later.

In 2008 Gazprom and Korea Gas signed an agreement for the Russian state-owned energy monopoly to provide 10 billion cubic meters of natural gas a year to Korea Gas for 30 years beginning in 2015.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News