ID :
207909
Mon, 09/19/2011 - 06:01
Auther :
Shortlink :
https://oananews.org//node/207909
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Seoul to weigh N. Korean risk for tripartite pipeline project
SEOUL, Sept. 19 (Yonhap) -- The Seoul government will weigh all possible risks as it moves to hold trilateral talks on a massive project to lay a gas pipeline from Russia to South Korea through North Korea, a government report said Monday.
"The pipeline project is still in its infancy and nothing has been decided yet," said the Ministry of Knowledge Economy in the report submitted to the parliament for the annual audit. "We will examine all possible measures to tackle North Korean risks and reflect them in the process of further discussions (on the project)."
Seoul and Moscow have discussed a proposal for the construction of a gas pipeline that would ship Russian natural gas via the communist North. The ambitious project has gained momentum in recent weeks after North Korean leader Kim Jong-il discussed the project with Russian President Dmitry Medvedev during his trip to Russia last month.
"In a general gas supply contract, the exporter (Russia) bears responsibility for the fulfillment of obligations," said the ministry, referring to the criticism that Pyongyang would shut off the gas pipeline or siphon off gas as a way to have leverage over the South if relations become difficult.
It also said that South Korea's state-run Korea Gas Corp. (KOGAS) is in talks with its Russian counterpart Gazprom to discuss ways to further the project.
Choo Kang-soo, president of KOGAS, left for Russia last week for meetings with representatives of Russia's largest gas firm Gazprom, while North Korea's Oil Industry Minister Kim Hui-yong also headed to Russia a day before.
The ministry estimated that some US$3.4 billion will be invested in the project but the exact amount could change in the future.
The pipeline, if built, will boost exports of Siberian natural gas to South Korea -- one of the world's largest natural gas consumers -- and is expected to bring more than US$500 million a year in transit fees to the impoverished North, according to South Korean analysts.
The project has also raised hopes for an improvement in inter-Korean ties, which have reached their lowest point in decades following the North's deadly military attacks last year. Seoul blames Pyongyang for the March 2010 sinking of the South Korean warship Cheonan and the artillery shelling of the front-line island of Yeonpyeong, which killed a total of 50 South Koreans.
"The pipeline project is still in its infancy and nothing has been decided yet," said the Ministry of Knowledge Economy in the report submitted to the parliament for the annual audit. "We will examine all possible measures to tackle North Korean risks and reflect them in the process of further discussions (on the project)."
Seoul and Moscow have discussed a proposal for the construction of a gas pipeline that would ship Russian natural gas via the communist North. The ambitious project has gained momentum in recent weeks after North Korean leader Kim Jong-il discussed the project with Russian President Dmitry Medvedev during his trip to Russia last month.
"In a general gas supply contract, the exporter (Russia) bears responsibility for the fulfillment of obligations," said the ministry, referring to the criticism that Pyongyang would shut off the gas pipeline or siphon off gas as a way to have leverage over the South if relations become difficult.
It also said that South Korea's state-run Korea Gas Corp. (KOGAS) is in talks with its Russian counterpart Gazprom to discuss ways to further the project.
Choo Kang-soo, president of KOGAS, left for Russia last week for meetings with representatives of Russia's largest gas firm Gazprom, while North Korea's Oil Industry Minister Kim Hui-yong also headed to Russia a day before.
The ministry estimated that some US$3.4 billion will be invested in the project but the exact amount could change in the future.
The pipeline, if built, will boost exports of Siberian natural gas to South Korea -- one of the world's largest natural gas consumers -- and is expected to bring more than US$500 million a year in transit fees to the impoverished North, according to South Korean analysts.
The project has also raised hopes for an improvement in inter-Korean ties, which have reached their lowest point in decades following the North's deadly military attacks last year. Seoul blames Pyongyang for the March 2010 sinking of the South Korean warship Cheonan and the artillery shelling of the front-line island of Yeonpyeong, which killed a total of 50 South Koreans.
