Gazprom to raise gas supplies to South Korea to 12 bcm

© RIA Novosti . Alexander SolovskyRussia's gas giant Gazprom will increase its planned gas supplies to South Korea via North Korea to 12 billion cubic meters from 10 bcm, Gazprom Deputy Chairman and head of exports Alexander Medvedev said on Tuesday.
Russia's gas giant Gazprom will increase its planned gas supplies to South Korea via North Korea to 12 billion cubic meters from 10 bcm, Gazprom Deputy Chairman and head of exports Alexander Medvedev said on Tuesday. - Sputnik International
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Russia's gas giant Gazprom will increase its planned gas supplies to South Korea via North Korea to 12 billion cubic meters from 10 bcm, Gazprom Deputy Chairman and head of exports Alexander Medvedev said on Tuesday.

Russia's gas giant Gazprom will increase its planned gas supplies to South Korea via North Korea to 12 billion cubic meters from 10 bcm, Gazprom Deputy Chairman and head of exports Alexander Medvedev said on Tuesday.

"The volume of gas supplies to South Korea will rise to 12 bcm," Medvedev told reporters, adding gas supplies to North Korea to produce electricity were still under discussion.

Gazprom plans to start gas supplies to South Korea, the world's second largest liquefied natural gas (LNG) buyer after Japan, from 2017. Current sales amount to 1.5 billion tons of LNG shipped from Vladivostok.

Gazprom has considered the construction of a pipeline through North Korea to bring gas to South Korea from the Sakhalin-Khabarovsk-Vladivostok transportation system in Russia's Far East but the idea was put on hold as relations between the two Koreas deteriorated. The two countries have not yet signed a peace treaty since the end of the Korean War in 1953 and are technically at war.

But earlier in September, Gazprom and North Korea signed a memorandum of understanding and agreed to set up a working group on the pipeline project.

The gas pipeline is expected to be over 1,100 km long, including 700 km to run across North Korea. Gazprom is in talks with the two countries to implement the project.

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