South Korea plans to boost LNG import from Russia

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South Korea plans to increase the supplies of liquefied natural gas (LNG) from Russia, the Ministry for the Development of the Russian Far East said, citing head of South Korea’s Northern Economic Cooperation Committee Song Young-gil.

“We have agreed to develop cooperation not only in the field of aquaculture but also in other products and services, in particular, Korea plans to increase LNG supplies from Russia,” Song said during a video conference with Minister for the Far East Development Alexander Galushka.

 During the video conference, the sides discussed some specific joint projects in Russia’s Far Eastern Federal District and reached an agreement on the participation of Korean business in the construction of a fertilizer plant in Nakhodka.According to Song, the main issue for Korean investors is the provision of land for the construction of the facility.

Korean businessmen also intend to participate in the creation of a fishing industry complex on Nazimov Cape near Vladivostok.



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