Russia’s investment agency, Korea’s Kogas agree to operate on Arctic shelf, says deputy PM


Russia’s Far East Investment and Export Agency and Korea’s gas corporation Kogas have reached an agreement on potential joint operations on the Arctic shelf, Deputy Prime Minister, Presidential Envoy to the Far Eastern Federal District Yuri Trutnev told a briefing at the Eastern Economic Forum on Friday.

It was requested earlier to draft bills on expanding access to Arctic shelf operations to private investors at the meeting headed by Russian deputy prime ministers Dmitry Kozak and Yuri Trutnev.

"Today the Agency and Kogas reached an agreement to expand exploration of the Arctic shelf," Trutnev said.

A representative of the Agency noted that the Korean company is ready for Russia's proposals on offshore operations. The Korean side suggested that detailed discussions be started in October in Moscow.

The fifth Eastern Economic Forum is being held in Russia’s Vladivostok on September 4-6. Roscongress Foundation is the organizer of the event. TASS news agency is the event’s general information partner, the official photo hosting agency and moderator of the presentation zone focusing on the Russian Far East’s innovation opportunities.

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