Increasing Cooperation
The Ministry of Trade, Industry & Energy announced on June 16 that it held the 14th Korea-Russia Energy Cooperation Committee meeting in Moscow to discuss bilateral cooperation in the energy sector covering oil and gas, coal, electricity, and new and renewable energy.
When it comes to oil and gas, the Korea Gas Corporation and Gazprom talked over how to step up their cooperation, and the ministry invited Russian companies to its Northeast Asia Oil Hub Project.
In the coal sector, the ministry asked the Russian government to build more ports and railways so that Korean companies can bring coal in the Far East region with greater stability.
The Korea Electric Power Corporation (KEPCO), in the meantime, signed a memorandum of understanding with Russian power companies Inter RAO and Rosetti for the expansion of mutual cooperation.