Russian-Chinese energy partnership gaining momentum
The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Li Hui, Chinese Ambassador to Russia.
The parties addressed the issues of further bilateral co-operation. The progress with the project for supplying Russian pipeline gas to China via the eastern route was positively evaluated. It was pointed out that the project was carried on according to the deadline.
The meeting also mentioned the formulation of the purchase and sale agreement for Russian gas supply via the western route.
The meeting participants stressed that the departing year was seminal for the Russian-Chinese relations in the energy sector and expressed their confidence that the partnership would keep on gaining momentum.
Background
On 21 May 2014, Gazprom and CNPC signed the largest purchase and sale agreement in the history stipulating Russian pipeline gas supply via the eastern route. The 30 year contract provides for gas supplies to China in the amount of 38 billion m3 of gas per year.The eastern route stipulates the delivery of Russian natural gas from the Irkutsk and Yakutia gas production centres to China via the Power of Siberia gas trunkline.
On 9 November 2014, Gazprom and CNPC signed a Framework Agreement for Russian natural gas supply to China via the western route.The western route stipulates annual gas supply in the amount of 30 billion m3 from Western Siberia to China via the Altai gas pipeline during 30 years.
Adapted from press release by Hannah Priestley-Eaton
Read the article online at: https://www.worldpipelines.com/project-news/02012015/russian-chinese-energy-partnership-gaining-momentum/
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