Agreement on bases in Syria to serve strengthening of stability in Middle East — MPRussian Politics & Diplomacy January 20, 21:18
Trump's inaugural address: When America is united, America is totally unstoppableWorld January 20, 20:57
Hermitage chief: New Palmyra destruction comes across as militants' vengeanceRussian Politics & Diplomacy January 20, 20:29
Russia's first deputy PM wants to keep current tax system for next political cycleBusiness & Economy January 20, 19:53
Russia’s Shipulin clinches gold in 20km individual race of IBU World Cup stage in ItalySport January 20, 19:18
Prominent Russian adventurer Konyukhov to take samples from Mariana Trench floorSociety & Culture January 20, 19:15
Gazprom CEO says North Stream-2 pipeline proves relevanceBusiness & Economy January 20, 19:10
More survivors found in avalanche-hit Italian hotel — mediaWorld January 20, 18:48
Donald Trump takes office as 45th US PresidentWorld January 20, 18:21
STRELNA (St. Petersburg), September 6 (Itar-Tass) - Russia’s gas giant Gazprom and China National Petroleum Corporation (CNPC) have signed an agreement on terms of Russia’s gas supplies to China via eastern route. The signing ceremony was held in the presence of the Russian and Chinese presidents, Vladimir Putin and Xi Jinping, on the sidelines of the G20 summit in St. Petersburg on Thursday.
According to earlier information, the pricing parameters of the Russian gas supplies are expected to be coordinated before the end of the year.
In March, Gazprom and CNPC inked a memorandum of understanding on Russia’s gas pipeline deliveries to China via eastern route. Under the document, the planned volume of Russia’s gas supplies at 38 billion cubic metres en route may be raised owing to LNG deliveries from the Vladivostok-based LGN refinery. Back then, Gazprom CEO Alexei Miller stated that Russia might receive a payment in advance for its gas export to China. Cost of the gas transit system (Sila Sibiri) up to a branch with China was preliminary estimated at 770 billion roubles (USD 1 = RUB 33.39). Therefore, the advanced payment might be at 25 billion U.S. dollars.
In June, CNPC made a new proposal pertaining to the gas pricing formula. China’s national company offered to tie it with cost of the Henry Hub LNG blend. Back then, Gazprom declared that it was not ready to link prices for the Russian gas supplies to China with LNG prices on the U.S. market.