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“Gas Pipeline Project Prepares Against Risk”

Written: 2011-09-19 16:18:33Updated: 2011-09-19 18:14:37

“Gas Pipeline Project Prepares Against Risk”

The Knowledge Economy Ministry says it will sufficiently review and use measures to eliminate risk related to a project to bring natural gas from Russia via a pipeline linking South and North Korea.

The ministry said in its report to a parliamentary inspection that the Pipeline Natural Gas (PNG) project is in the early stages of discussion and no concrete terms of agreement have been discussed.

On concerns of addressing risk, including North Korea cutting off gas supply, the ministry said generally, the responsibility to deliver gas lies with the exporter, Russia.

In addition, the ministry said that the gas pipeline is estimated to need investment of three-point-four billion dollars, which may change depending on what route it will take in North Korean territory.

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