Vladimir Radyuhin

MOSCOW: Russia has reached agreement with South Korea to supply 10 billion cubic metres (BCM) of natural gas a year. The deal will help Russia diversify gas exports away from Europe, which seeks to reduce its dependence on Russian energy.

South Korea said on Wednesday it would launch its first carbon trading firm to fund clean energy projects and encourage investment in emission trading, joining the global push to tap the US$64 billio

Posco of South Korea, the world's fourth-largest steelmaker, has moved to strengthen the security of its coal supplies by joining ArcelorMittal and China's Citic on the share register of Macarthur Coal. The three groups together now control almost half of the A$4.2bn (US$4bn) Australian group, making it virtually impossible for one of them to launch a successful takeover bid for Macarthur without the others' agreement.

The Paris-based World LP Gas Association (WLPGA) is organising three-day 21st World LP Gas Forum in Seoul, from September 24-26 with the theme of "LPG: clean energy for a low carbon world". "We are looking forward to our Seoul event and have introduced new initiatives to complement the theme this year," said James Rockall, Managing Director of the WLPGA.

Much as the United States President George W. Bush and the US secretary of state Con-doleezza Rice would like to believe that 'apparent improvement' in the diets of people in India and China is among the causes of the current global food crisis, the food crisis is the result of other factors as well, not the least important among them being the diversion of food for bio-fuels.

fuel efficient: South Korea will soon become the first nation to set a national greenhouse gas emissions target, though the country is not obliged to make mandatory emission reductions under the

Lanka, Korea MoU for solid waste management project The Environment and Natural Resources Ministry signed an MoU with the Republic of Korea for the implementation of a joint solid waste management project in four local Government areas in the Colombo District under the Ministry's Pilisara project.

Soaring food prices and global grain shortages are bringing new pressures on governments, food companies and consumers to relax their longstanding resistance to genetically engineered crops. In Japan and South Korea, some manufacturers for the first time have begun buying genetically engineered corn for use in soft drinks, snacks and other foods. Until now, to avoid consumer backlash, the companies have paid extra to buy conventionally grown corn. But with prices having tripled in two years, it has become too expensive to be so finicky.

China yesterday signed two multibillion-dollar long-term deals to buy liquefied natural gas from Qatar, marking a milestone in Asia's evolution as the hottest market for the fuel. PetroChina struck a deal to buy 3m tonnes of LNG a year over 25 years from 2011 with Qatar and its partner, Royal Dutch Shell. Analysts said the deal could could be worth as much as $60bn. CNOOC, China's primary LNG importer, also signed a framework supply agreement. Al-though it is yet to be formalised in a binding contract, it is for 2m tonnes a year from 2009.