Gazprom and KOGAS sign Agreement of Cooperation
Alexey Miller, Chairman of the Gazprom Management Committee, and Lee Seung-hun, President and CEO of KOGAS, signed an Agreement of Cooperation at the Gazprom headquarters today.
The document envisages a broader cooperation between Gazprom and KOGAS in the field of LNG supplies from the Russian Federation to South Korea.
In addition, the Agreement reflects the parties’ intention to implement joint projects in LNG production, transportation and regasification and in gas-fired power generation.
The document also outlines the key avenues of cooperation, including in research and development, energy efficiency, environmental protection, and the NGV sector.
Background
The main business lines of KOGAS are construction and operation of LNG receiving terminals and gas distribution networks, implementation of international gas projects, and research and development in the gas industry.
In 2005, Sakhalin Energy Investment Company and KOGAS signed the contract for the supply of 1.5 million tons of LNG per year from the Sakhalin II project.
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