1 November 2008
Russia targets South Korea
GAS EXPORTS to South Korea will begin by 2015, following a memorandum of understanding signed at the end of September between Gazprom and Kogas, the two state-controlled companies. The $100bn deal will see construction of a 10bn cubic metres a year pipeline to the Korean peninsula. Exports will last for 30 years. The companies say they will also "explore the possibility of implementing projects in the area of gas processing, construction of a gas chemicals plant and a liquefied natural gas (LNG) plant in Russia's far east". South Korea says the imports will cost $90bn and will meet 20% of projected demand. The pipeline will start in Vladivostok, in the far east, and cross North Korea before
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