Cooperation in Energy Sector
The Ministry of Trade, Industry & Energy of South Korea announced that its 15th meeting with the Ministry of Energy of Russia for cooperation in the field of energy took place in Seoul on February 21. The annual meeting began back in 1992 and the two countries have alternately hosted it since then.
Park Won-joo, head of the Office of Energy & Resources of the ministry, led the meeting with Deputy Minister of Energy Anton Inyutsyn. There, the two sides discussed cooperation in the fields including gases, electricity and joint energy R&D.
When it comes to gases, the two countries are going to continue to work with each other in the LNG sector based on, for example, the agreement previously signed by the Korea Gas Corporation and Gazprom. In addition, they are going to cooperate for Russia’s new projects such as Arctic LNG2.
In the electricity sector, the Korea Electric Power Corporation (KEPCO) and Rosseti are planning to sign a memorandum of understanding in the near future for joint power system research. The two ministries are going to form working-level cooperation channels to that end.
The two countries are planning on a workshop for joint energy technology development as well. The KEPCO Research Institute, the Korea Energy Technology Evaluation & Planning, and EN+ Group are expected to participate in the workshop.