KOGAS and Gazprom Discuss Cooperation Schemes in Natural Gas

Lee, Soo-Ho, president of KOGAS, attended the Ceremony marking Gazproms 15th founding anniversary on February 11, 2008 in Moscow, Russia. Among the potentates of Russia who attended in the ceremony, there was Russian Deputy Premier Dmitry Medvedev, presidential candidate supported by the president Vladimir Putin. President Lee and Jiang Jiemin, president of CNPC(China National Petroleum Company) were the only participants from Asia.

During President Lee visit to Russia, he met the executives of Gazprom and deliberated the specific cooperation schemes, including the import of Russian natural gas and participation in the resource development business.

Gazprom implements the East Gas Program with the Unified Gas Supply System(UGSS) - the basic plan for the development and export of East Siberian natural gas.

Since the conclusion of the Gas Industry Cooperation Agreement between Korea and Russia in 2006, both nations have discussed resource cooperation plans through resource cooperation committees and high level talks. On behalf of Ministry of Commerce, Industry, and Energy of Korea and Ministry of Industry & Energy of Russia, KOGAS and Gazprom continually promote cooperation businesses in the natural gas industry, among which includes the import of natural gas. The likelihood for the import of Russian natural gas is better, as it was included in the East Gas Program which Gazprom had suggested and was approved by the Russia government.