Gazprom and CNPC agreed on additional gas supplies to China
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Head of Gazprom (MOEX: GAZP) Alexey Miller and Chairman of the Board of Directors of China National Petroleum Corporation (CNPC) Dai Houlian signed an agreement on additional gas supplies to China via the “eastern route” (via the Power of Siberia gas pipeline). The agreement will be valid until the end of 2023, reported press service of the Russian holding.
“Negotiations on all issues of cooperation in the gas sector were held in a very constructive and meaningful manner. This year, the increase in gas supplies through the Power of Siberia compared to the same period last year has already amounted to 46.6%,” said Alexey Miller following a working meeting in Beijing. The head of the holding emphasized that Gazprom is ready to further increase supplies of natural gas and provide for Chinese partners.
“Power of Siberia” is a Russian main gas pipeline for gas supplies from Yakutia to the Primorsky Territory and countries of the Asia-Pacific region. A joint project of Gazprom and CNPC.
In addition, during the meeting, Alexey Miller and Dai Houlian discussed the progress of work on the Soyuz Vostok gas pipeline project in Mongolia, which will be a continuation of the Russian Power of Siberia-2 gas pipeline. The parties also paid attention to the implementation of the supply project along the “Far Eastern” route and signed an updated agreement on the recognition of standards and the results of conformity assessment of companies.
China National Petroleum Corporation is the largest Chinese national oil and gas corporation and one of the world’s largest energy companies producing oil and gas. CNPC is Gazprom’s main partner in China. The companies have a 30-year agreement on gas supplies via the “eastern” route in the amount of 38 billion cubic meters. m of gas per year.
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