A Memorandum of Understanding has been signed between Gazprom and North Korea’s Ministry of Oil Industry for the construction of a gas pipeline between Russia and the Korean Peninsula.
The Memorandum of Understanding (MoU) was signed at a working meeting hosted at the Gazprom headquarters in Russia between Gazprom Management Committee Chairman Alexey Miller and the Democratic People's Republic of Korea Oil Industry Minister Kim Hui Yong.
During the meeting, the parties discussed the practical approaches to implementation of the project for natural gas transmission from Russia to the Korean Peninsula. The leaders of the two countries had reached an agreement on the project at the previous meeting in Ulan-Ude in August.
The parties agreed to establish a joint working group for the project implementation and highlighted the importance of full support of the gas pipeline construction by the two countries’ governments.
As a result of the meeting, an intergovernmental agreement on the project implementation was prepared and signed.
Image caption: The Democratic People's Republic of Korea Oil Industry Minister Kim Hui Yong and Gazprom Management Committee Chairman Alexey Miller.
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