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Gazprom and CNPC approve Roadmaps for implementing Memorandum on underground gas storage and gas-fired power generation

July 21, 2016, 18:55

A working meeting between the co-chairmen of the Joint Coordinating Committee of Gazprom and CNPC – Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Wang Dongjin, Vice President of CNPC – took place today in St. Petersburg.

The parties discussed cooperation issues. Particular attention was paid to the progress of the project for natural gas supplies from Russia to China via the eastern route. It was noted that the construction of the Power of Siberia gas pipeline was running strictly on schedule.

In addition, the meeting participants addressed the companies’ collaboration prospects with regard to building underground gas storage and gas-fired power generation facilities in China, promoting the use of gas as a vehicle fuel, and ensuring occupational health and safety.

In the course of the meeting, the parties approved the Roadmaps for implementing the Memorandum of Understanding on underground gas storage and gas-fired power generation in China.

Background

CNPC is China's state-owned oil and gas company and one of the world's leading integrated energy companies.

The Joint Coordinating Committee (JCC) of Gazprom and CNPC supervises the implementation of the Agreement of Strategic Cooperation between the two companies. The Working Groups set up within the JCC oversee the main areas of companies’ cooperation.

In 2014, Gazprom and CNPC signed the Sales and Purchase Agreement for gas to be supplied via the eastern route (Power of Siberia gas pipeline). The 30-year Agreement provides for Russian gas deliveries to China in the amount of 38 billion cubic meters per year.

On June 25, 2016, Gazprom and CNPC signed the Memorandum of Understanding on underground gas storage and gas-fired power generation in China.

 

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