Russia’s Gazprom, China’s CNPC aim to enter gas deal by late ’13

28 February 2013 03:52  [Source: ICIS news]

SINGAPORE (ICIS)--Russia’s Gazprom said late on Wednesday that it has agreed with China National Petroleum Corp (CNPC) to accelerate gas supply talks and the two companies intend to ink a purchase and sale contract by late 2013.

Gazprom and CNPC confirmed basic parameters of Russian gas export to China, including the volume, the starting date of supplies and their duration, gas delivery point on the border and other conditions, Gazprom said in a statement.

In the nearest future the negotiations will be continued to reach agreements on other supply terms as soon as possible, it said.

The supply volume under discussion is approximately 68bn cubic metres each year.

Gazprom and CNPC in December 2009 signed the Heads of Agreement on Gas Supply, but no formal deal has been reached because of disagreement over price and route, according to industry sources.

By: Fanny Zhang
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly