February 17, 2010
SEOUL (AFP) - South Korea will start exploratory drilling for gas hydrates off its east coast in April as part of a drive to acquire alternative energy resources, officials said Tuesday.
The Ministry of Knowledge Economy said the drilling would take place from April 1 through May 15 at a cost of 37 million dollars.
South Korea carried out its first exploratory drilling for gas hydrates in 2007. A drill ship from Britain's Fugro Synergy will be used for the second operation south of Ulleung Island off the east coast.
Gas hydrates are a semi-solid mixture of methane gas and water molecules that are created by water pressure and cold temperatures found deep in the ocean.
Ministry officials believe the deposit of gas hydrates may reach 600 million tons, enough to meet the country's natural gas demands for up to 30 years. They plan to commercially extract gas hydrates from 2015.
South Korea is the world's fifth largest crude importer. It has no proven oil or gas reserves.
