Arab Today, arab today interkorean gas link may be pipe dream
Last Updated : GMT 09:42:59
Arab Today, arab today
Arab Today, arab today

Inter-Korean gas link may be pipe dream

Arab Today, arab today

Arab Today, arab today Inter-Korean gas link may be pipe dream

Seoul - AFP

A multi-billion dollar plan to funnel Russian natural gas to South Korea via its North Korean neighbour may be just a pipe dream despite major potential economic and political benefits, experts say.The long-discussed project would reduce Seoul\'s huge gas import bill, bring a transit fee windfall to cash-strapped Pyongyang and rake in tens of billions of dollars for Moscow\'s state-controlled gas company. But tensions between the Korean rivals, heightened since two deadly border incidents last year which the South blames on the North, could yet derail the scheme. The pipeline returned to the headlines last month when the North\'s leader Kim Jong-Il reportedly gave it his backing during a summit in Russia with President Dmitry Medvedev. South Korea\'s President Lee Myung-Bak on Thursday also endorsed the idea, lauding the \"great\" potential of the scheme and saying it may be speeded up. \"North Korea and Russia are in talks and we are also in talks with Russia. There will be a point where the three parties reach an agreement,\" Lee told a panel discussion. \"I think it will proceed faster than expected. It will be great if the project materialises.\" Lee and Medvedev are expected to discuss the issue on the sidelines of the Asia-Pacific Economic Cooperation meeting in November in Hawaii, Yonhap news agency said. Officials from Russia\'s gas corporation Gazprom will reportedly visit Seoul this month to discuss with Korea Gas Corporation the project to link South Korea to gas terminals in Sakhalin, Khabarovsk and Vladivostok.Resource-poor but heavily industrialised South Korea is one of the world\'s biggest importers of natural gas. Under a 2008 interim agreement it would import at least 10 billion cubic metres (350 billion cubic feet) of natural gas a year -- 20 percent of its annual needs -- through the pipeline for 30 years.But Gazprom\'s chief executive said last November the delivery method had not yet been agreed. Other options are an undersea pipeline or liquefied supplies by ship. Experts said the transport cost of pipelined gas would be one third that of liquefied gas carried by ship. Given current gas prices, the deal could bring Russia $150 billion over 30 years.Citing government sources, South Korea\'s Chosun Ilbo newspaper said the impoverished North was asking $150 million per year as a transit fee. A deal hangs on the diplomatic mood on the Korean peninsula and currently tensions between the North and South are at their highest for years. Professor Kang Joo-Myung of Seoul National University said there are serious obstacles to the 1,000-km (625-mile) pipeline, which according to experts would cost $3 billion to lay. \"South Korea has to ask three questions -- is the size of the gas reservoir large enough to supply for 30 years, who will fund the pipeline construction across North Korea and how to guarantee against North Korea risk?\" Kang told AFP.He said the project was likely to face strong opposition from the communist North\'s powerful military as it would have to traverse the heavily fortified inter-Korean border. The military might have to relocate sensitive facilities. The project needs an easing of tensions and especially a settlement of disputes over the North\'s nuclear programme, said Professor Kim Yong-Hyun of Seoul\'s Dongguk University. \"Under the current situation, the pipeline project appears to be no more than a pipe dream,\" he said. \"But it could also serve as a pathway to bring the two Koreas closer.\" Kim played down concerns the North could turn off the supply to pressure the South, particularly as such moves could damage ties with Russia. Professor Yang Moo-Jin of Seoul\'s University of North Korean Studies said the two Koreas and Russia were likely to reach agreement to form a special committee in November to push through with the project.\"However, it\'s true that there remains a long way to go before the project becomes reality,\" Yang said.And Choi Ki-Ryun, professor of energy studies at Ajou University in Suwon, said economics should have greater weight than politics. Choi told the Korea JoongAng Daily natural gas prices are dropping as more reserves are discovered worldwide.\"The price will get lower,\" Choi said, \"and it is necessary to calculate the risk of a long-term energy project rather than focusing on political meanings.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today interkorean gas link may be pipe dream Arab Today, arab today interkorean gas link may be pipe dream

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today interkorean gas link may be pipe dream Arab Today, arab today interkorean gas link may be pipe dream

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday