The 30-year agreement will boost gas supplies by 10 billion cubic meters and will be settled in euros Russias Gazprom and the China
The 30-year agreement will boost gas supplies by 10 billion cubic meters and will be settled in euros Russia’s Gazprom and the China National Petroleum Corporation (CNPC) signed a second long-term contract on Friday for the supply of 10 billion cubic meters (bcm) of natural gas from the Russian Far East. The agreement comes as Russian President Vladimir Putin is in China on an official visit. According to Gazprom, the agreement is “an important step in further strengthening mutually beneficial cooperation between Russia and China in the gas sector.” After the project reaches its full capacity, the volume of Russian pipeline gas supplies to China via the Far East route will reach 48 billion cubic meters per year (including deliveries via the Power of Siberia gas pipeline). Gazprom’s largest natural gas deposit in the Far East is the Yuzhno-Kirinskoye field, where production is due to begin in 2023.
