Commercial talks on new contract with China advancing in good pace
A meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Zhang Gaoli, First Vice Premier of the State Council of the People's Republic of China took place in Beijing today.
The parties addressed the state of the Intergovernmental Agreement on arranging supplies of Russian pipeline gas to China via the western route.
Alexey Miller also met with Wang Dongjin, Vice President of CNPC. The conversation centered around the main issues of signing a contract and a technical agreement on Russian gas supply to China via the western route.
“The focus of today's talks is on the western route. A new contract for the supply of 30 billion cubic meters of gas annually is under development. The gas pipeline project for the western route is all set for transiting to the construction phase. We are moving ahead in a good pace in the commercial talks,” said Alexey Miller summing up the visit.
CNPC is China's largest petroleum company wholly-owned by the state, and is one of the world's biggest integrated energy companies.
On May 21, 2014 Gazprom and CNPC signed the Purchase and Sale Agreement for the Russian gas supply via the eastern route. The 30-year contract provides for Russian gas supplies to China in the amount of 38 billion cubic meters per year.
On November 9, 2014 Gazprom and CNPC signed the Framework Agreement for Russian natural gas supply to China via the western route.
The western route envisages gas supply to China from Western Siberia's fields.