08/06/2018

Press release: Gazprom and CNPC review wide range of issues regarding gas cooperation

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Wang Yilin, Chairman of the Board of Directors of CNPC, took place today in Beijing.

The meeting participants reviewed a wide range of issues regarding cooperation in the gas sector, including the status of the project for gas supplies via the eastern route (Power of Siberia). It was noted that the project was going according to schedule, with the gas pipeline’s linear part from the Chayandinskoye field to the Chinese border completed by 84.4 per cent (over 1,820 kilometers). Pipe pulling operations were finished in the second tunnel of the crossing under the Amur River within Power of Siberia’s cross-border section.

 

The parties discussed the commercial and technical aspects of gas supplies to China from Russia’s Far East.

 

Emphasis was placed on joint efforts in such areas as underground gas storage, promotion of the use of natural gas as a vehicle fuel, and gas-fired power generation.

At the end of the meeting, Alexey Miller and Wang Yilin signed a Supplementary Agreement to the Agreement for cooperation in the field of mutual recognition of standards and conformity assessment results, inked on November 7, 2016. The new document envisages the introduction of regulations on the terms and mechanisms of mutual recognition of testing results for the products of common interest for both companies.

 

Background

Gazprom’s main partner in China is CNPC, a state-owned oil and gas company.

On May 21, 2014, Gazprom and CNPC signed the Sales and Purchase Agreement for Russian gas to be supplied via the eastern route (Power of Siberia gas pipeline). The 30-year Agreement provides for gas deliveries to China in the amount of 38 billion cubic meters per year.

In 2015, Gazprom and CNPC inked the Memorandum of Understanding for the project of pipeline gas supplies to China from Russia’s Far East.

In 2016, Gazprom and CNPC signed the Memorandum of Understanding on underground gas storage and gas-fired power generation in China, the Memorandum to explore the opportunities for cooperation in the NGV sector, and the Agreement to cooperate in the field of mutual recognition of standards and conformity assessment results.

In July 2017, Gazprom and CNPC inked the Supplementary Agreement to the Sales and Purchase Agreement for gas to be supplied via the eastern route inked in 2014. According to the document, gas supplies will commence on December 20, 2019.

In December 2017, Gazprom and CNPC signed the Heads of Agreement for natural gas to be supplied from Russia’s Far East to China.


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