Gazprom and CNPC signed an agreement on gas supplies for rubles and yuan

“Gazpromand the Chinese oil and gas company CNPC signed an agreement on the transfer of payments for gas supplies to China in rubles and yuan, transmits press service of the Russian company.

“The new payment mechanism is a mutually beneficial, timely, reliable and practical solution. I believe that it will simplify the calculations, become an excellent example for other companies, and give an additional impetus to the development of our economies,” said Alexei Miller, CEO of Gazprom.

The company’s press service also reported that the parties paid special attention to the Power of Siberia-2 gas pipeline in Russia and the Soyuz Vostok gas pipeline in Mongolia, which will connect the Russian and Chinese gas transmission systems.

“During the meeting, additional agreements were signed to the long-term Gas Purchase and Sale Agreement along the “eastern” route – the Power of Siberia gas pipeline,” the press service noted.

In June “Gazpromand CNPC signed a technical agreement on gas supplies. The signing took place at the St. Petersburg International Economic Forum (SPIEF) via video conferencing. “The document contains the main technical parameters of the transboundary section of the gas pipeline, including the underwater crossing of the Ussuri border river, as well as the physical and chemical parameters of the gas intended for supplies,” Gazprom said in a statement.

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