Russian Gazprom goes back to idea of gas pipeline to South Korea

Russian Gazprom goes back to idea of gas pipeline to South Korea
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Gazprom, a Russian gas holding, is considering a project to build a pipeline to South Korea through the DPRK, amid lessening of political tensions on the Korean peninsula.

As Reuters reported with reference to Deputy Chairman of the Board of the company, Alexander Medvedev, Gazprom went back to this idea in June this year, as a result of  “signs showing the improvement the political situation” in the region. This statement was made by the representative of the gas holding at an economic forum held in the Russian Far East.

“...We are in contact with our South Korean and North Korean colleagues. We are preparing to enter a very important stage... in this case, it is preferable to call this the phase of investment substantiation,” Medvedev said.

Gazprom has been planning for a long time to build a gas pipeline to South Korea, but the project was never implemented against the backdrop of years of tension between the two Koreas. However, this year signs of lessening tensions began to appear.

So, on September 18-20, a summit of North Korea's leader Kim Jong Un and South Korean President Moon Jae-in will be held in Pyongyang. The day before, military officials from both countries held a meeting in preparation for the summit, where they discussed, in particular, measures to reduce military tension in the Yellow Sea.