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News // Russia

Russia and China discuss energy cooperation

16 February 2017 , 10:12Neftegaz.RU944

Chinese Vice Premier Zhang Gaoli met with Gazprom CEO Alexey Miller on February 15, 2017, calling for steady development of bilateral engery cooperation.

 

Zhang said China and Russia should conduct further research on the west-route gas pipeline and the Far East gas supply projects adhering to the principle of shared benefits and risks, and expand cooperation in natural-gas-burning power generation, underground gas storage, engine fuel and other areas.

 

Zhang called on both sides to ensure the success of major projects like the China-Russia crude oil trade and increased crude supply, east-route gas pipeline project and the Yamal liquefied natural gas project.

Recent years have witnessed continuous achievements in energy cooperation including in natural gas field between China and Russia under the strategic guidance of the 2 countries' top leaders, said Zhang.

 

For his part, Alexey Miller said Russia viewed China as an important energy cooperation partner.

Russia is willing to work with China on the current projects and explore new areas of cooperation so as to jointly lift the energy cooperation partnership to a new high, he said.

 

Another working meeting was held between Alexey Miller and Wang Yilin, Chairman of the Board of Directors of CNPC.

It was noted that the construction of the Power of Siberia gas pipeline (eastern route) was going according to schedule, with preparations underway for the construction of the cross-border section.

 

Gazprom investments in the Power of Siberia pipeline in 2017 increased to $2.7 bln from $1.3 bln.

Previously, Gazprom CEO Alexei Miller said that the contract for the supply of Russian gas to China through the Power of Siberia pipeline came into force in May 2015.

The supplies will start in 4 to 6 years after the contract’s entry into effect. Accordingly, the gas deliveries to China may start in the period from May 2019 on May 2021.

 

The meeting also touched upon the construction of the Amur GPP.

The parties concluded the final negotiations aimed at engaging China Petroleum Engineering & Construction Corporation (a CNPC affiliate) in the project under an EPC contract for the construction of a booster compressor shop and gas dehydration and fractionation units.

 

To read this news in Russian.

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