GAZPROM AND SOUTH KOREAN COMPANY LOOK TO COOPERATION

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MOSCOW, September 3 (RIA Novosti) - The Russian gas major Gazprom and the South Korean company Kogas have considered an outlook for Russian natural gas supplies.

The working meeting between deputy chairman of the Gazprom board Alexander Ananenkov and the delegation of Kogas top managers, led by the state-appointed auditor Cho Kwang-Hun, was held in the central administrative office of Gazprom, it says in the communique, coming to hand at RIA Novosti on Friday.

The Korean delegation was given a sidelight on Russia's Energy Strategy Until 2020. Particularly, the resource base of the Russian gas sector, its development outlook for a few decades to come, basics of arranging gas exports.

According to the Gazprom press service, in consideration was also the programme for creating in the East Siberian and Far Eastern regions an integrated system of gas production, transport and supply with account for the possible export to countries in the Asia-Pacific region.

Gazprom is actively specifying the programme in a bid to submit it for consideration by the cabinet in the end of this year, Ananenkov said.

The communique says that South Korea's reserves of gas are limited and only insignificant production is on. The country's gas market actually fully depends on the import of liquefied natural gas: 18 million tonnes of it was imported in 2003.

The Kogas corporation was established in 1983. The state holds 62 percent of its shares.

On May 12, 2003 Gazprom and Kogas concluded a five-year cooperation agreement. To realise it, the sides set up a standing joint working group. The first sitting was gathered in Seoul in February 2004.

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