The contract is the second long-term sales and purchase agreement clinched by the two companies. The Far Eastern route will boost volumes of gas supplies from Russia to China by 10 billion cubic metres.
The signature of the contract represents an important step in the further strengthening of mutually beneficial cooperation between Russia and China in the gas sector.
“This is already a second contract to be signed for Russian gas supplies to China and it is indicative of the exceptionally strong mutual trust and partnership between our countries and companies. Our Chinese partners from CNPC have already seen for themselves that Gazprom is a reliable gas supplier,” a company statement quoted CEO Alexey Miller as saying.
CNPC, a state-owned oil and gas company, is Gazprom’s main partner in China.
In 2014, Gazprom and CNPC signed a 30-year sales and purchase agreement for 38 bcm of gas per year to be supplied via the “eastern” route (Power of Siberia gas pipeline). The project went into effect on 2nd December 2019. In January 2022, a feasibility study was completed for the Soyuz Vostok gas trunkline construction project. The trunkline will become an extension of Russia’s Power of Siberia 2 gas pipeline in Mongolian territory and will make it possible to supply up to 50 bcm per year to China.