Gazprom and CNPC sign agreement for main terms of gas supply to China
MOSCOW. Dec 28 (Interfax) - Gazprom and China National Petroleum Corporation (CNPC) have signed an agreement on the main terms of gas supply from Russia to China, the Russian gas concern said in a statement.
The agreement was signed a following this year's final meeting of commercial negotiations between Gazprom and CNPC on organizing the supply of gas to China through western and eastern routes.
The agreement sets out the base commercial and technical parameters for the supply of Russian gas to Chinese consumers.
Both sides also agreed to continue active partnership in the first quarter of 2010 for the purposes of reaching an agreement on all remaining conditions, which will consequently form the basis for signing
The agreement on strategic partnership between Gazprom and CNPC was signed on October 14, 2004. This agreement foresees a wide specter of partnership areas, including Gazprom's organization of gas supply from Russia to China. In addition, study of the possibility of implementing joint projects in gas processing and gas chemical efforts in eastern Russia is included in the agreement, as well as projects in other countries.
In October 2009, Gazprom and CNPC signed a framework agreement for the terms for natural gas supply from Russia to China