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Russia increases gas supplies to South Korea

Russia and South Korea agreed to increase the supply of Russian natural gas to the Republic of Korea, as well as to explore the possibility of joint development of hydrocarbon fields, according to a statement adopted following the talks between the presidents of the two countries in Moscow. The parties recognized the importance of strengthening the interconnections in the energy sector in Northeast Asia and agreed on joint research on the supply of Russian natural gas via the pipeline to the Republic of Korea.

In addition, Moscow and Seoul agreed to continue cooperation on intergovernmental level for the establishment of a transmission network between states of the region, including Russia and South Korea, the statement said. The parties also expressed their interest in continuing the supply of goods and services for the nuclear fuel cycle for nuclear power plants in the Republic of Korea.