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Gazprom, CNPC sign long-term gas deal

March 25, 2013 at 8:30 AM   |   Comments

MOSCOW, March 25 (UPI) -- Russian energy company Gazprom said it signed a 30-year deal with China National Petroleum Corp. to deliver natural gas to China by pipeline.

CNPC President Zhou Jiping signed the deal in Moscow with Gazprom Chief Executive Officer Alexei Miller.

"The signed document is of long-term strategic nature, it determines the parameters of Russian natural gas supplies to China via the eastern route and establishes the framework for a 30-year contract for gas supplies from Russia to China," Miller said in a statement.

Gazprom in 2007 adopted a program to get more natural gas to Chinese and other Asian markets. In mid-March, Miller led a delegation to Beijing to meet the board of directors at CNPC to discuss pipeline gas supplies to the Chinese market.

Gazprom added that it was interested in working with CNPC on liquefied natural gas from the Vladivostok project on Russia's eastern coast.

The Chinese company in January said it was looking to secure more natural gas to address surging winter demand. Gazprom gave no indication of the volume of pipeline deliveries.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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