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Gazprom OAO and CNPC Sign Memorandum on Eastern Route Pipeline Gas Supplies to China-Interfax

Friday, 22 Mar 2013 08:22am EDT 

Interfax reported that Gazprom OAO (Gazprom) CEO Mr. Alexei Miller and CNPC chief Mr. Zhou Jiping signed a memorandum on the project to deliver Russian pipeline gas to China on the so-called eastern route, an Interfax correspondent reported. The signing ceremony took place in the Kremlin in the presence of Russian President Mr. Vladimir Putin and Chinese President Mr. Xi Jinping. The memorandum sets out the main parameters of the contract, clearing the way for an agreement on price. The contract will be for 30 years, Gazprom said. Plans are to sign the contract before the end of the year. Gazprom has been negotiating deliveries of Russian gas to China for almost 10 years. It initially planned to deliver gas to China on the western route: 30 billion cubic meters (bcm) a year from Western Siberia on the Altai pipeline for delivery to China's west. Gazprom decided not to negotiate deliveries on the eastern route (38 bcm a year) until deliveries on the western route were decided. But it changed its position late last year after the final investment decision on development of the Chayanda gas condensate field was approved. 

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