.Russia, S Korea to expand cooperation in oil/gas sector -- Putin.

9/9 Tass 493

MOSCOW, September 9 (Itar-Tass) - Russia and South Korea hope to
develop cooperation in field of crude oil and natural gas production,
Russian Prime Minister Vladimir Putin said Thursday at the talks with
visiting South Korean President Lee Myung-bak.
"Korean companies are working in cooperation /with Russian companies/
in the Far East /of Russia/ as part of the Sakhalin-2 project," Putin said.
"They get the necessary products from there and they plan boosting the
purchases of resources, including liquefied natural gas," he said.
Putin mentioned a number of instruments of bilateral interaction, like
the inter-governmental commission. He added that the latter is expected to
have the next session in St Petersburg later this month.
"We are satisfied on the whole with how our cooperation is developing
and we're really glad to see a South Korean delegation as authoritative as
this one here in Russia," Putin said.
Lee Myung-bak recalled that to years have passed since his previous
meeting with Putin and the global financial crisis has fallen on this
period of time.
He underlined his praise of the efforts that the Russian government is
making to clear away the aftermath of the global crisis.
President Lee expressed concern over the wildfires that affected many
regions in the European part of Russia this summer. He said however that
the rapid elimination of their aftermaths produced a big impression on him.
In this connection, Putin thanked the South Korean government for
assistance.
Lee also recalled that this year marks twenty years since the
establishment of diplomatic relations between South Korea and the former
USSR. He stressed the high rate at which they have been developing over
this period of time.
Although the volume of bilateral trade shrank last year, the two
countries still have fairly good prospects in the economy and politics,
Lee said.
-0-kle/dro


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