Gazprom, CNPC talk Chinese natural gas market prospects
Russian giant Gazprom discussed the development prospects of the Chinese gas market with CNPC.
Gazprom’s head Alexey Miller and CNPC chairman Wang Yilin discussed strategic aspects of cooperation between the two companies, paying particular attention to gas supplies.
It was noted that the preparation of facilities for Russian gas exports to China via the Power of Siberia gas pipeline from December 1, 2019, is going according to schedule. It is planned to start injecting natural gas into the pipeline in the third quarter of this year.
The parties discussed issues related to the planned deliveries of Russian gas to China from the Far East and via the western route.
In addition, the meeting touched upon the collaboration between the companies in the areas of gas-fired power generation, use of natural gas as a vehicle fuel, and underground gas storage.
In May 2014, Gazprom and CNPC signed the 30-year sales and purchase agreement for Russian gas to be supplied via the eastern route (Power of Siberia gas pipeline). The document provides for gas deliveries to China in the amount of 38 billion cubic meters per year.