Gazprom and CNPC discuss their arrangements about delivery of pipeline and liquefied gas to China

Gazprom Plc. and Chinese CNPC discussed their arrangements about the delivery of Russian pipeline gas and LNG to China. In the framework of the energy dialogue the working meeting of deputy Chairman of Gazprom, Alexander Medvedev and vice-President of CNPC ,Wang Dongjin took place.

Recently it was reported that Russian vice-PM, Arkady Dvorkovich doubted that Russia and China would sign an agreement about delivery of pipeline gas to China during the visit of Putin to PRC on June 5-6.

Russia and China have been trying to sign a contract for the delivery of Russian gas to China for several years, however, the countries still can’t arrange the price of the deliveries. Unofficially it is reported, the difference in the price for the gas delivery reaches $100 per thousand cubic metres. Officially, Russian party expected to settle down the disagreements with China by the end of 2011, however, this didn’t happen.

Planned annual delivery can make up 68 billion cubic metres in prospect.

South-East Asian countries are importers of LNG. In 2010 these countries obtained about 24% of total world import of LNG (70.7 billion cubic metres in absolute terms). In 2009 Gazprom Marketing and Trading Singapore Pte. Ltd. was founded. The main activity of the company is LNG trading. The company operates in China, India, Japan, the Republic of Korea, Taiwan, Thailand etc.

Source: http://www.oilru.com/news/320779/

Translated by Alexandra Utyasheva