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North Korea to Earn $ 100 Million on Transiting Russian Gas
17.11.2011 15:39
North Korea to Earn $ 100 Million on Transiting Russian Gas

North Korea will gain from Russian gas pipeline from Far East to South Korea. As a transit territory for Russian gas supply, Democratic People’s Republic of Korea will get about $ 100 million a year, said Viktor Ishaev, the Russian president's envoy to the Far East.

"It would be a huge sum for a country with annual gross product of $10 billion. Moreover, the country would have to make no big effort to get it," said the state man.

In August Russia and North Korea reached an agreement to draw up a project to build a gas pipeline to South Korea. The pipeline cost is estimated as much as $6 billion.

Author: Irina Fomina

Tags: Resources Russian business    

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