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Gazprom talks natural gas with China

Feb. 28, 2013 at 6:26 AM

BEIJING, Feb. 28 (UPI) -- China National Petroleum Corp. agreed to work more closely with Russian suppliers to secure gas deliveries through an eastern route, said Gazprom.

CNPC Board Chairman Jiang Jiemin met with Gazprom Deputy Chairman Alexander Medvedev in Beijing to discuss natural gas options for China.

"Gazprom and CNPC agreed to step up the negotiations on Russian natural gas supply via the eastern route with a view to sign a gas purchase and sale contract with a validity period until 2013," Gazprom said.

The Chinese company in January said it was looking to secure more natural gas to address surging winter demand.

Gazprom in 2007 adopted a program to get more natural gas to Chinese and other Asian consumers.

Gazprom said both sides would reach agreement on a natural gas deal "as soon as possible."

Both sides also discussed the outlook for the Vladivostok liquefied natural gas project. Gazprom last week said it approved of the investment rational for the LNG plant, which will have three process trains with an annual capacity of 5 million tons of LNG each.

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