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Contracts for gas supplies to China unlikely to be signed during Putin’s visit

May 31, 2012, 18:50 UTC+3
According to Dvorkovich, “there is no agreement” on the price of gas and the talks will continue
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Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, May 31 (Itar-Tass) — Deputy Prime Minister Arkady Dvorkovich doubts that contracts for Russian natural gas supplies to China will be signed during President Vladimir Putin’s upcoming visit to Beijing.

According to Dvorkovich, “there is no agreement” on the price of gas and the talks will continue.

When asked whether a contract would be signed, he said, “I doubt that.”

The head of the Russian Gas Society, MP Valery Yazev told Itar-Tass earlier in the day that China is a tough negotiator “not only with Russia but also with Turkmenistan, Kazakhstan and Uzbekistan”.

In his opinion, China with coal-based power generation follows “the ‘eternity lies ahead of us’ principle of Chinese philosophy”.

Yazev believes that Russia should not sell gas at a loss and for that reason it is hard to predict the outcome of the talks.

Currently, the share of natural gas in China’s power generation is a mere 4-5 percent, but is likely to grow. At the same time, China regulates this process mildly by developing nuclear power production as well.

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