Russia Signed the Second Framework Agreement with China
Posted: 11/10/2014 04:11:29 Edited: 11/10/2014 03:11:29 Clicks: 2329
On Sunday, Russia signed the second framework agreement of gas supply with China, which was a part of Putin, the Russian president enhancing relationship between Russia and China. Several months before, two countries had already signed a contract which was worthy for 400 billion dollars.
According to the newly negotiated contract, Russia will supply 30 billion cubic meters per year of gas to China from the western of Siberia to China, lasting for 30 years.
Based on the contract signed by China and Russia in May, Gazprom will provide 38 billion cubic meters per year of gas from the eastern of Russia to China.
After Altai gas pipe being finished, China will become the largest customer of Russian gas, ensuring its clean energy supply and opening up a new market for Russia. Ukrainian crisis results in Russia being faced with risk that looses European energy customers.
In its statement, Russian government claimed that Gazprom signed memorandum of understanding with CNPC, after Putin meeting with Xi Jinping, the President of China.
Alexander Novak, the Secretary of the Russian Ministry of Energy claimed, “At present, Gazprom is still negotiating with CNPC. Two leaders have just reached an agreement. Contract will be signed in the fist half of next year.”
According to framework agreement, CNPC will buy 10% shares of Vankorneft, which is a subsidiary corporation of Rosneft, the largest Russian oil manufacturer.
According to the newly negotiated contract, Russia will supply 30 billion cubic meters per year of gas to China from the western of Siberia to China, lasting for 30 years.
Based on the contract signed by China and Russia in May, Gazprom will provide 38 billion cubic meters per year of gas from the eastern of Russia to China.
After Altai gas pipe being finished, China will become the largest customer of Russian gas, ensuring its clean energy supply and opening up a new market for Russia. Ukrainian crisis results in Russia being faced with risk that looses European energy customers.
In its statement, Russian government claimed that Gazprom signed memorandum of understanding with CNPC, after Putin meeting with Xi Jinping, the President of China.
Alexander Novak, the Secretary of the Russian Ministry of Energy claimed, “At present, Gazprom is still negotiating with CNPC. Two leaders have just reached an agreement. Contract will be signed in the fist half of next year.”
According to framework agreement, CNPC will buy 10% shares of Vankorneft, which is a subsidiary corporation of Rosneft, the largest Russian oil manufacturer.
