Gazprom will begin gas deliveries to South Korea since 2017

The heads of both companies summarized the joint study of options for natural gas supply from Russia to the Republic of Korea.
Alexey Miller and Choo Kangsoo had agreed through mail correspondence to start in December 2010 commercial negotiations relevant to natural gas purchase and sale contract. The parties came to an agreement on a number of prioritized issues, namely, on the commercial negotiations schedule and the contract validity period starting from 2017.
Summing up the meeting, Alexey Miller noted that the Eastern Gas Program encompassing construction of the Sakhalin – Khabarovsk – Vladivostok gas pipeline and the projected placement of the Yakutia – Khabarovsk – Vladivostok gas pipeline would not only meet the Russian consumer demand in the Far East, but also create the necessary prerequisites for extra gas supplies from Russia to Asia-Pacific including the Republic of Korea.
Alexey Miller also met with Kang Young-Won, President and CEO of Korea National Oil Corporation. The meeting addressed the Gazprom-KNOC cooperation prospects within the Eastern Gas Program including the projects for creating the gas chemical capacities in Russia’s Far East with the subsequent use of final products within and beyond the country, namely, in Asia-Pacific.
As part of the Sakhalin II project the Republic of Korea was supplied with some 2.9 million tons of Russian LNG between 2009 and 2010.
The Korea National Oil Corporation (KNOC) deals with oil exploration and production in Yemen, Argentina, Peru, Venezuela, Libya and Vietnam.