Arab Today, arab today s korea to weigh north risks in gas pipeline
Last Updated : GMT 15:03:59
Arab Today, arab today
Arab Today, arab today

S. Korea to weigh North risks in gas pipeline

Arab Today, arab today

Arab Today, arab today S. Korea to weigh North risks in gas pipeline

Seoul - AFP

Seoul said Monday it would consider all possible risks as it prepares for more talks on a huge project to pipe Russian natural gas to South Korea via North Korea. \"We will examine all possible measures to tackle North Korean risks and reflect them in the process of further discussions,\" the Ministry of Knowledge Economy said in a report to parliament. Inter-Korean relations remain frosty after two deadly border incidents last year which Seoul blamed on its neighbour. Critics of the pipeline project say Pyongyang could tamper with the gas supply at times of tensions. Responding to such criticism, the ministry report quoted by Yonhap news agency said the exporter (Russia) in such deals bears responsibility for the fulfillment of obligations. But it noted that the project \"is still in its infancy and there has been no discussion yet on detailed terms of a contract\". The pipeline, estimated by the ministry to cost $3.4 billion, has been mooted for years. It was back in 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. Choo Kang-Soo, president of South Korea\'s state-run Korea Gas Corp, and North Korea\'s Oil Industry Minister Kim Hui-Yong held separate talks in Russia last week with representatives of Russia\'s largest gas firm Gazprom. Gazprom said discussions with Kim ended with the signing of a memorandum of understanding while those with Choo produced a \"roadmap\" for future gas deliveries to the South. South Korea\'s President Lee Myung-Bak said this month the pipeline may be speeded up. \"I think it will proceed faster than expected. It will be great if the project materialises,\" he said. Resource-poor but heavily industrialised South Korea is one of the world\'s biggest importers of natural gas. Under a 2008 interim agreement with Gazprom it would import at least 10 billion cubic metres (350 billion cubic feet) of natural gas a year -- 20 percent of its annual needs -- for 30 years. Apart from the North Korean delivery route, 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 has said the impoverished North was asking $150 million per year as a transit fee.

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 s korea to weigh north risks in gas pipeline Arab Today, arab today s korea to weigh north risks in gas pipeline

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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