Gazprom keeps working on contract with China
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Wu Xinxiong, Vice Chairman of the National Development and Reform Commission of China, Head of the National Energy Administration.
The meeting participants addressed the current state of cooperation in the energy sector. In particular, they discussed preparations for the contract to supply pipeline gas from Russia to China via the eastern route. It was pointed out that the contract would take the dialogue between Russia and China to a new level.
At present, the negotiations concerning terms and conditions of the supply contract are at their final stage.
CNPC is China's largest petroleum company wholly-owned by the state and is one of the world's leading integrated oil and gas production companies.
In 2009 Gazprom and CNPC inked the Framework Agreement on the major terms and conditions of natural gas supply from Russia to China. The Agreement stipulates annual exports of up to 68 billion cubic meters of gas to the Chinese market. In 2010 the Extended Major Terms of natural gas supply from Russia to China were signed.
In September 2013 Gazprom and CNPC inked the Agreement on the major terms and conditions of pipeline gas supply from Russia to China via the eastern route.