The Russian gas holding Gazprom is preparing for the stage of a pre-investment feasibility study of the project providing the construction of a gas pipeline to South Korea through the territory of the neighboring DPRK.
This was announced today by Deputy Chairman of the Board of Gazprom, Alexander Medvedev, at the Eastern Economic Forum.
“The idea of a gas pipeline from Russia through North Korea to South Korea is not new... But there were signs of an improvement in the political situation. We, with our South Korean and North Korean counterparts, are preparing to enter a very important stage, which is a pre-investment feasibility study,” he said.
Medvedev has explained that this requires technical, economic and commercial tasks. “I hope that in a short while we will be able to say that we have entered this stage”, he concluded.
In June, Gazprom and South Korea have resumed talks on the construction of a gas pipeline through the territory of North Korea.
“To date, the political situation is somewhat different, and the South Korean side appealed to Gazprom regarding the resumption of this project. A series of negotiations was held in this part, and these negotiations are continuing”, said Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee. Markelov has reminded that this project is not new and its consideration started in 2011.