Korea to join Russia-China gas pipeline project
Date: 07-Oct-99
Country: RUSSIA
"In November an additional protocol to the trilateral agreement is
expected to be signed stating that South Korea would be joining in as a
fourth party," Telegina said.
The Russian government, Rusia Petroleum, a joint venture of BP Amoco and
Russia's Sidanko CHGZ.RTS, and the China National United Oil Corp signed
in February an agreement on a feasibility study of a pipeline from
Russia's enormous Kovykta gas field.
Telegina said South Korea was interested in getting 10 billion cubic
metres (bcm) of Russian gas per year.
Kovykta, situated in Siberia's Irkutsk region, has proven reserves of
870 bcm of natural gas and 60 million tonnes of gas condensate.
The proposed pipeline, with an estimated cost of $10 billion, would
carry gas to China and possibly to South Korea and Japan.
