Russian-Chinese energy partnership gaining momentum

RELEASE

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Li Hui, Chinese Ambassador to Russia.

Meeting between Alexey Miller and Li Hui, Chinese Ambassador to Russia held
Meeting between Alexey Miller and Li Hui, Chinese Ambassador to Russia held

Li Hui and Alexey Miller

The parties addressed the issues of further bilateral cooperation. 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 May 21, 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 cubic meters of gas per year.

The eastern route stipulates the delivery of Russian natural gas from the Irkutsk and Yakutia gas production centers to China via the Power of Siberia gas trunkline.

On November 9, 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 cubic meters from Western Siberia to China via the Altai gas pipeline during 30 years.

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