Oil & Gas

Gazprom and CNPC to extend strategic cooperation

Aworking meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Zhang Gaoli, Vice Premier of the State Council of the People’s Republic of China, took place in Beijing on February 15.

The parties addressed key areas of strategic cooperation, expressing appreciation for the past and prospective collaboration between Gazprom and Chinese energy companies and financial organizations. Particular attention was paid to the projects for pipeline gas supplies from Russia to China.
Another working meeting was also held on February 15 between Alexey Miller and Wang Yilin, Chairman of the Board of Directors of CNPC. The parties reviewed the progress of the project for gas deliveries from Russia to China via the eastern route, as well as the prospects for gas supplies via the western route and from Russia’s Far East. It was noted that the construction of the Power of Siberia gas pipeline (eastern route) was going according to schedule, with preparations underway for the construction of the cross-border section.
Alexey Miller and Wang Yilin underlined that the project for pipeline gas supplies from Russia’s Far East complemented and expanded the eastern route. Upon consideration of groundwork carried out on the main technical issues, the parties agreed to start commercial negotiations on the project.
“The strategic partnership between Gazprom and CNPC continues to advance. I am confident that Gazprom’s unique experience and enormous capacities will help China with its ambitious plans to develop the national gas market and secure demand for natural gas as well. By 2020, the share of natural gas in China’s energy mix is expected to grow from 6 per cent to 10 per cent. According to the plan, the need for gas imports may double by late 2020, reaching 150 billion cubic meters. As of today, we have an ongoing project with CNPC for gas supplies from Russia to China via the eastern route. The agenda is to complement it with another project for pipeline gas supplies from Russia’s Far East,” said Alexey Miller.

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