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Gazprom, China meet for another round of gas negotiations.

Over the negotiations, the sides updated their mutual commercial offers on gas supplies from Russia to China

MOSCOW, September 26 (Itar-Tass) —— Gazprom’s Deputy CEO Alexander Medvedev and Deputy Chairman of China’s National Petroleum Corporation Wang Dongjin had another round of the negotiations on terms and conditions of supplies of Russian gas to China.

Gazprom reported on Monday that the meeting took place in Alma-Ata past weekend.

“Over the negotiations, the sides updated their mutual commercial offers on gas supplies from Russia to China,” Gazprom’s Information Department said.

On October 14, 2004, Gazprom and CNPC signed an agreement on strategic partnership, which, among other issues, dwells upon Gazprom’s supplies of natural gas from Russia to China. In June of 2009, governments of Russia and China signed a Memorandum on mutual understanding of cooperation in natural gas. In October of 2009, Gazprom and CNPC signed a Framework Agreement on basic terms and conditions of supplies of natural gas from Russia to China. In December of 2009, the two countries signed Basic terms and conditions of the supplies. Meanwhile, the sides have failed over many rounds of talks to agree on the price. Gazprom and CNPC organised a joint Coordination committee, which works on organisation of supplies of Russia’s natural gas and holds commercial negotiations on pricing.

CNPC is China’s major state petroleum company / the share of the state is 100 percent/ and is a leading integrated oil and gas producing company in the world.

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