Beijing hosted today working meetings amongVitaly Markelov, Deputy Chairman of the Gazprom Management Committee, Wang Dongjin, Vice President of CNPC and Huang Weihe, Vice President of PetroChina.
The parties addressed the progress with the project for constructing thePower of Siberiagas pipeline to supply Russian natural gas to China (eastern route).
The meeting considered the future joint efforts on implementing the Memorandum of Understanding on the project for pipeline gas supply to China from the Russian Far East. The participants also discussed the cooperation within gas-fired power projects.
Background
State-owned petroleum company CNPC is one of the largest integrated energy companies in the world.
PetroChina is a major Chinese company focused on oil and gas production and sales. CNPC has the majority stake in PetroChina.
On May 21, 2014 Gazprom and CNPCsignedthe Sales and Purchase Agreement for the Russian gas supply via the eastern route (Power of Siberia gas pipeline). The 30-year contract provides for Russian gas supplies to China in the amount of 38 billion cubic meters a year.
On September 3, 2015 Gazprom and CNPCsignedthe Memorandum of Understanding on the project for pipeline gas supply to China from the Russian Far East.
Power of Siberia is a gas main intended for natural gas delivery from theIrkutskandYakutiagas production centers to the Russian Far East and China.