SEOUL, Sept. 19 (UPI) -- The South Korean government is reviewing potential risks associated with a proposed natural gas pipeline from Russia through North Korea, an official said.
Russian energy company Gazprom announced last week that it signed a memorandum of understanding with North Korea to build a natural gas transmission system to the Korean Peninsula.
Seoul weighed in by saying the project was in the very early stages of planning.
"We will examine all possible measures to tackle North Korean risks and reflect them in the process of further discussions (on the project)," the official Yonhap news agency quoted the Ministry of Knowledge Economy as stating.
South Korea is one of the largest natural gas consumers in the world. If built, the pipeline has the potential to bring in more than $500 million each year for the North Korean government in terms of transit fees.
Seoul said the reliability of gas supplies through North Korean territory would rest in Russian hands.
