Gas producers in the Russian Federation are interested in supplies to the Korean market.

Russia is ready to return to discussing the project of the gas pipeline to South Korea across the territory of the DPRK. This was announced on Friday by the first deputy chairman of the committee of the Federation Council on international affairs, Vladimir Dzhabarov.

In addition, he said, Russian gas producers (Gazprom, Rosneft, Novatek) were interested in increasing supplies of liquefied natural gas to the South Korean market.

South Korea is one of the largest buyers of Russian LNG coming from Sakhalin. The possibility of laying a pipe to South Korea across the territory of North Korea was mentioned in 2011. Even the cost of the project was called - $10 billion.However, the project was abandoned after the death of Kim Jong Il. Later, Russia talked about the possibility of building an underwater gas pipeline directly to South Korea, but the high seismic activity of the region was an obstacle.

At the end of March 2018, the head of the South Korean Foreign Ministry, Kang Hyon Hwa, said that if the security situation on the Korean Peninsula improved, the parties would be able to proceed to the draft review.

In October last year, the head of Gazprom, Alexey Miller, said that the project to build a gas pipe to South Korea could be implemented in a short time - provided that the appropriate political and commercial decisions were taken.

KeyFacts Energy Industry Directory: Rusmininfo