USD 92.2628

-0.33

EUR 99.7057

-0.56

Brent 86.99

+0.1

Natural gas 1.752

-0

703

Gazprom and CNPC sign Memorandum of Understanding on underground gas storage and gas-fired power generation

Alexey Miller, Chairman of the Gazprom Management Committee, and Wang Yilin, Chairman of the Board of Directors of CNPC, today signed in Beijing a Memorandum of Understanding in the field of underground gas storage and gas-fired power generation.

Gazprom and CNPC sign Memorandum of Understanding on underground gas storage and gas-fired power generation

Alexey Miller, Chairman of the Gazprom Management Committee, and Wang Yilin, Chairman of the Board of Directors of CNPC, today signed in Beijing a Memorandum of Understanding in the field of underground gas storage and gas-fired power generation.

As it was reported by Gazprom on June 26, 2016, the signing ceremony was attended by Vladimir Putin, President of the Russian Federation, and Xi Jinping, President of the People's Republic of China.

According to the document, the signatories intend to explore the prospects for cooperation in building underground gas storage (UGS) and gas-fired power generation facilities in China.

The parties will analyze and assess the geological, technological, and economic conditions for creating UGS facilities in Heilongjiang, Jiangsu, and Zhejiang. A joint venture will be set up to implement UGS-related projects. By late August, the parties will examine and select target projects in the field of gas-fired heat and power generation from among those offered by CNPC in order to make an investment decision and choose an organizational and legal framework for projects to be executed.

The Russian-Chinese dialogue in the gas sector is crossing into new territory. Our cooperation in the field of underground gas storage and power generation will help deepen the relationship between the companies and considerably improve the environmental situation in China,” said Alexey Miller.


Follow us on Facebook
Advertising at neftegaz.ru

Subscribe to our newsletter

of the best materials Neftegaz.RU

* Incorrect E-Mail Address

By clicking the "Subscribe" button I accept the "Agreement on the processing of personal data"


Advertising at neftegaz.ru