facebook
twitter
rss
account
search
search
 

Russia's Medvedev tells of major natural gas supply deals with China

Oct. 23, 2013 at 6:15 AM   |   Comments

BEIJING, Oct. 23 (UPI) -- Russian Prime Minister Dmitry Medvedev said in Beijing major investments are in the works for natural gas supplies in energy-hungry China.

Medvedev said Russia is on the cusp of reaching multibillion-dollar natural gas supply deals with China, which, with its expanding economy, is fast becoming the world's leading energy consumer.

Officials with Russian natural gas company Gazprom met this week with their Chinese counterparts to discuss potential agreements in the energy sector.

"These agreements that we are on the way to reaching, in particular concerning gas, will soon become [official] documents," Medvedev was quoted by Russia's state-run news agency RIA Novosti as saying during a state visit to Beijing Tuesday.

Russian energy company Novatek said Tuesday it reached a deal to supply at least 3 million tons of liquefied natural gas to China National Petroleum Corp. under the terms of a 15-year contract.

"We welcome the achievement of a mutually beneficial agreement on LNG supplies to the fast-growing Chinese market," Leonid Mikhelson, chairman of Novatek's board, said in a statement.

Russia is the world's largest natural gas supplier.

© 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.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
4
Brent losing steam, WTI showing gains Brent losing steam, WTI showing gains
5
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
Trending News
Around the Web
x
Feedback