Better Energy, Better World Cooperation in Natural Gas Industry between Russia and Korea Sept. 2004 Better Energy, Better World
Contents 1. Introduction of KOGAS 2. Cooperation between Russia and Korea Better Energy, Better World
Introduction of KOGAS Facilities for National Pipeline System Established by the Government in 1983 ◈ KOGAS Main Facilities ◈ - 3 terminals and 2, 500 km Transmission Network v Seoul Incheon Terminal Pyeongtaek Terminal Intention to Implement International PNG Project - diversification and security of energy sources Tongyoung Terminal Better Energy, Better World
Natural Gas Consumption in Korea (Unit : 1, 000 tons) The largest importer, accounting for 16% of LNG trade in the world Better Energy, Better World
Secured Energy Supply Sources ◈ Long-term supply contracts with nine global suppliers in six countries Qatar Malaysia 4. 8 mt/yr 4. 0 mt/yr 3% equity participation Brunei 0. 7 mt/yr Australia Oman 4. 1 mt/yr Indonesia 1. 2% equity participation 0. 5 mt/yr 5. 3 mt/yr Better Energy, Better World
Balance between Contracted Volume and Demand Unit: Million Ton Year 2005 2006 2008 2010 2015 2017 Shortage + PNG 1. 4 2. 1 5. 6 5. 3 14. 6 19. 6 Better Energy, Better World
KOGAS Policy to Import Natural Gas u Security of Stable Long Term Supply u Competitiveness against Alternative Sources - Price & Flexibility of Supply Conditions u Diversification of Supply Sources u Joint Investments for Mutual Benefits KOGAS is under bidding process to buy 5 million ton LNG/year from 2008. Better Energy, Better World
2. Cooperation between Russia and Korea Better Energy, Better World
Irkutsk PNG Project Major Milestones: • Nov. ’ 00: An Agreement • Nov. ’ 03: IFS Completion • The target delivery year : 2008 • IFS Report is now under review by representing Party’s government. Signing Ceremony of An Agreement • Pipeline Route in the Russian Territory is being reconsidered. Better Energy, Better World
Challenges to Implementation of the Project 1. No Cross Border Infrastructure - Long Distance from the Fields to Markets - Huge Amounts of Investment Cost 2. Requirement of a Large Scale Export Volume - Enlargement of Neighbor Country's Gas Demand 3. Development of Sustainable Engine to implement the joint projects - Strong Government Support - The Well-matched Program between Supplier and Importers Better Energy, Better World
Possible Role of KOGAS for Cooperation Provision of Gas Market to develop the Gas Reserves - Availability between LNG and Pipelined Natural Gas Joint Investment with the Russian Partners Joint Preparation of the Comprehensive Program to realize the Projects - Gazprom and Companies appointed by the Russian Federation KOGAS is ready to cooperate with the Russian Partners to implement the Joint Statement agreed in both Summit held on the 21 th of September. Better Energy, Better World
Better Energy, Better World Thank You !!! Better Energy, Better World
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