Seoul Ready to Provide Heavy Oil to Pyongyang
Based on the Feb. 13 Agreement agreed upon by the six-party members in Beijing, Seoul has started preparing to provide 50,000 tons of heavy fuel oil to Pyongyang. A government source said, “The government has launched preparations for 50,000 tons of heavy oil for the North to follow the joint statement from the third session of the fifth round of the six-party talks,” going on to say, “We have reported the details to the related committee of the National Assembly.
It is stated that the government has determined to purchase the oil by using the inter-Korean cooperation funds. The total cost of purchasing and delivering the oil is estimated to be 20 billion won.
The government official said, “In the event that the North shuts down its Youngbyon nuclear facility and seals it, the South has to provide 50,000 tons of heavy oil in return. It is the right time to prepare for it. As a first measure, the government will ask the Supply Office to designate a domestic oil company to work with.”
He added, “More details for the procedures will be negotiated between the Inter-Korean economic and energy cooperation working-level groups.” The working-level group meetings have to be held within a month after the Feb. 13 Joint Statement.
Regarding the cost of providing heavy oil, the government official explained, “We now consider that the heavy oil price per ton will be estimated to be $350, and additional expense will reach up to 20%.”
According to the Feb. 13 Joint Statement, the North has to shut down its Youngbyon nuclear facility within 60 days after the statement as a first measure. Then the other member countries, South Korea, China, Russia, Japan, and the United States, have to provide the North with 50,000 tons of heavy oil. It was agreed to equally share the cost of providing energy aid to the North in return for its nuclear dismantlement.
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 / 입력시간: 2007. 02.28. 10:52
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