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Gazprom and CNPC agree to widen energy co-operation

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World Pipelines,

Gazprom, CNPC and China Development Bank Corporation have recently signed a number of documents for further co-operation at a meeting between the Russian and Chinese Prime Ministers in St. Petersburg.

CNPC is China's state-owned oil and gas company. In 2014, Gazprom and CNPC signed a sales and purchase agreement for gas to be supplied via (Power of Siberia gas pipeline. The 30 year agreement is to provide 38 billion m3/y of Russian gas to China.

At the recent signing ceremony, Alexey Miller (Chairman of the Gazprom Management Committee) and Xu Wenrong (Vice President of CNPC) signed an agreement to cooperate in the field of mutual recognition of standards and conformity assessment results.

The document provides for joint development of technical standards and application thereof by the companies.

The parties also signed a Memorandum of Understanding to explore opportunities for co-operation in the NGV sector. Alexey Miller and Zheng Zhijie, President of China Development Bank Corporation also signed a Memorandum of Understanding. The document outlines the general principles of co-operation between the parties in arranging project or any other financing.

“Russian-Chinese co-operation in the gas sector continues to expand and the dynamic is encouraging. Today, we signed important documents for bilateral partnership in a whole range of areas,” said Alexey Miller.

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