Regular meeting of Joint Working Group between Gazprom and CNPC held
The Gazprom Headquarters hosted a meeting of the Joint Working Group (JWG) between Gazprom and China National Petroleum Corporation (CNPC). The meeting was held as part of the implementation of the Strategic Cooperation Agreement between Gazprom and CNPC.
The meeting was moderated by Stanislav Tsygankov, Head of the International Business Department, Gazprom and Zhang Xin, Head of the International Cooperation Department, CNPC.
The JWG approved the work done in the areas of cooperation set forth in the Agreement and the Minutes of the 5th Meeting of the Joint Coordinating Committee.
The JWG considered the progress in the commercial talks as part of the Project on natural gas supply from Russia to China as well as various aspects of its arrangement, namely, marketing issues.
The meeting addressed crucial issues of sci-tech cooperation as well as interaction in personnel training and development. The parties agreed upon and prepared for signing an Agreement of Sci-Tech Cooperation over 2008 to 2009 as well as an Agreement of Cooperation in personnel training.
Being China’s largest state-owned oil and gas company (the government’s stake – 100 per cent), China National Petroleum Corporation (CNPC) is a leading integrated oil and gas production company of the world.
CNPC together with its subsidiaries supplies 79 per cent of the domestic oil market, controls 95 per cent and 40 per cent of the PRC’s natural gas and petroleum markets, undertakes investment activities in 25 countries worldwide.
The Agreement of Strategic Cooperation was signed between Gazprom and CNPC on October 14, 2004. The Agreement covers a wide spectrum of joint businesses including scrupulous discussion of issues relative to the organization of Gazprom’s natural gas deliveries to China. To steer the Agreement implementation the parties set up a Joint Coordinating Committee.