Gazprom and CNPC sign Technical Agreement on Far Eastern route for Russian gas supplies to China
RELEASE
Release
Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Huang Yongzhang, Vice President of CNPC, signed the Technical Agreement on the Far Eastern route for Russian gas supplies to China during a video call that took place today at the St. Petersburg International Economic Forum 2022.
The document outlines the key technical parameters of the gas pipeline's trans-border section, including the submerged crossing under the boundary river Ussuri, as well as the physical and chemical properties of gas to be supplied.
Background
The St. Petersburg International Economic Forum 2022 is being held at the EXPOFORUM Convention and Exhibition Centre from June 15 to 18. This year's main theme is “New Opportunities in a New World.”
Gazprom's main partner in China is CNPC, a state-owned oil and gas company.
In 2014, Gazprom and CNPC signed the 30-year Sales and Purchase Agreement for 38 billion cubic meters of gas per year to be supplied via the eastern route (Power of Siberia gas pipeline). The ceremony marking the start of the first-ever pipeline supplies of Russian gas to China took place on December 2, 2019.
February 2022 marked the signing of the long-term Sales and Purchase Agreement for natural gas to be supplied via the Far Eastern route. As soon as the project reaches its full capacity, the amount of Russian pipeline gas supplies to China is going to grow by 10 billion cubic meters, totaling 48 billion cubic meters per year.