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Tuesday, January 9, 2018

Gazprom and CNPC Agreed Construction of Another Gas Pipeline Between Russia and China

Gazprom and the Chinese CNPC laid the foundations for building another gas pipeline to transport Russian gas to China, released the head of the Russian gas giant Alexei Miller. He spoke with CNPC representatives. During the meeting, opportunities for gas transportation from the Far East (North Asian part of Russia) to China were discussed.

“The project will expand opportunities to cover the growing demand for gas on the Chinese market”, said Alexei Miller.

Russia plans to deliver gas through Siberian Power pipeline, which is under construction.

Both sides discussed the main parameters of future gas deliveries – volume, duration of contracts, commencement of deliveries and etc. The expectations are that China and Russia will sign a new gas supply contract in 2018.

Also both sides discussed the possibilities for cooperation in other areas – storage of gas in underground storage facilities, electrification based on gas and etc.

Both parties have also signed an agreement that will be attached to the natural gas purchase and sale contract on the “eastern” route. It sets out the conditions for taking into account the quantities of natural gas supplied.

Source: Finance Apprise