FROM: Daesung Group

Daesung Group,

WEC Korean Member Committee

to co-host conference on Trans-Korea gas pipeline

Discussions to focus on promotion of pipeline

from Russia through Korean Peninsula

Daesung Group will co-host the “Trans-Korea Gas Pipeline Project: Enhancing Regional Cooperation” at the Korea Chamber of Commerce and Industry on June 28 in conjunction with the World Energy Council (WEC) Korean Member Committee.

At this conference, experts from South Korea, Russia and Japan will examine the rapidly changing global gas market and the feasibility of constructing a gas pipeline from Russia through the Korean Peninsula.

In particular, the conference will also examine changes in the positions of nations such as Korea, Russia, China and Japan due to market fluctuations sparked by the increase in U.S. natural gas exports and the rise of piped natural gas (PNG) trade between Russia and China. In addition, the possibilities for expanding energy cooperation in Northeast Asia through the Trans-Korea gas pipeline will also be reviewed.

Cho Young-sung, head of the Korea Energy Economics Institute, will give the conference’s keynote speech. Kim Youn-kyoo,  director of Hanyang University’s Center for Energy Governance and Security, will moderate the first session, and Kwon Se-joong director-general of the Climate Change, Energy and Environment and Science Affairs Bureau of the Ministry of Foreign Affairs will moderate the second.

The theme of the first session centers on the global natural gas market and the prospects for PNG in Russia and Northeast Asia. Roman Samsonov, vice rector of Samara University; Ryo Fukushima, general manager of the global business planning department of Tokyo Gas; and Andrei Lankov, professor at Kookmin University will present their views on this theme.

The theme of the second session is the actual measures necessary to get the Trans-Korea and Russia gas pipeline in operation. Ryu Ji-chul, director of the Future Energy Strategy Research Cooperative; Lee Sung-kyu, leader of the Northern Energy Cooperation Team at the Korea Energy Economics Institute; and Ahn Se-hyun, professor at the University of Seoul will present their views on this topic.

This conference is being held in coordination with WEC, an international organization with over 90 nation member committees including Korea, Russia, China and Japan. , The long-term goal is to utilize WEC as a platform for encouraging cooperation on the Trans-Korea gas pipeline. In addition, the conference is being held because of the strong interest on the part of  WEC Chairman Younghoon David Kim of Daesung Group who is doing everything he can to encourage substantive discussion on the issue.

Chairman Kim elaborated on the purpose of the event by saying, “A gas pipeline from Russia through the Korean Peninsula is a project that is beneficial to all participating countries, but it is a pity that this project has not seen progress for decades due to political obstacles. Despite the stalemate in governmental discussions due to political and diplomatic issues, we have organized this conference with the expectation that the discussions will continue and gain momentum through WEC, which is a politically neutral, UN-accredited organization. I hope that this international project will one day be a testament to the progress that can be made in energy and economic cooperation in Northeast Asia.”

WEC’s 24th World Energy Congress, held from September 9 to 12 this year with the theme “Energy for Prosperity,” will also include discussions on the pipeline. A first for Korea, Younghoon David Kim was appointed chairman of WEC in 2016, and he has coordinated the preparations for this global event during his term. The Congress is a massive international energy event attended by more than 15,000 CEOs from 150 countries, notable individuals from both industry and academia, experts from international organizations, heads of governments and senior officials from energy ministries.

# # #