South Korea, Russia Reach $90B Gas Deal

Law360, New York (September 29, 2008, 12:00 AM EDT) -- South Korea has reached a $90 billion deal with Russia to import Siberian gas, to be pumped through a $3 billion pipeline that would stretch from Vladivistok through North Korea.

On Monday, South Korea's Energy Ministry revealed that the country intended to bring in up to 10 billion cubic metres of gas a year for 30 years starting in 2015, with Russian gas giant Gazprom and South Korea's Kogas set to ink a deal, according to Reuters.

While a deal has been in the works for...
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