South Korea's energy minister will visit Russia in August to discuss details of planned imports of Russian natural gas, the Maeil Business Newspaper reported Friday, citing the ministry and unidentified industry officials.
Minister of Knowledge Economy Lee Youn-ho will meet with his Russian counterpart to discuss laying pipelines to import natural gas from Russia through North Korea, it said.
Chief executives at state-run Korea Gas Corp. (036460.SE) and Korea National Oil Corp. will accompany Lee to the Russian trip, it said.
This follows an agreement reached last year between Kogas and Russia's state-run OAO Gazprom (GAZP.RS) under which South Korea plans to annually import 7.5 million metric tons of natural gas over the next 30 years, according to the newspaper.