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Korea would like to join "Power of Siberia"

  • Published in Economy
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IA SakhaNews. Seoul would like to extend the Russian-Chinese gas pipeline to Korea.Deputy of South Korean ruling party "Saenuri Party" Kim Dong Wan said that Seoul should seek an extension of the Russian-Chinese gas pipeline to the coast of the Korean Peninsula which is scheduled to start in 2018.This will allow South Korea to receive natural gas at a price lower than that of Qatar.

"Gazprom" and China's CNPC on May 21, 2014 signed a contract to supply 38 billion cubic meters of gas to China annually for 30 years.Total cost of gas will reach $ 400 billion.

"Power of Siberia" provides for delivery of gas along the route Yakutia - Khabarovsk - Vladivostok, there will be tapping for China. The Chinese part of the branch is expected to stretch from the border with the Russian Federation to the Shandong Peninsula. The pipeline is to be built by 2018.

Deputy Kim Dong Wan has made a conclusion about the need to cooperate with Russia in the field of gas purchases on the ​​basis of the results of the parliamentary audit conducted by the state gas company Kogas."The Chinese branch will stretch to Shandong Peninsula, and it is only 300 km from the coast of South Korea, from the city of Incheon", - said Member of the Committee on Industry, Trade and Resources of the National Assembly (Parliament) Kim Dong Wan.

The Deputy added that Russian gas will be much more profitable for Korea than the "blue fuel" from Qatar, which now Seoul purchases in large quantity."Compare the price for Russian gas and the Qatari supplied under long-term contracts.Russian gas is four times cheaper!,"- said the Deputy.

Source:Российскаягазета (“Rossiyskaya gazeta” newspaper)