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Gazprom to shift to payments in rubles, yuan for gas supplies to China, holding says

As Alexey Miller said, the new payment mechanism is a mutually beneficial and reliable solution

MOSCOW, September 6. /TASS/. Gazprom and China’s CNPC will shift to payments in rubles and yuan for gas supplies to China, Russia’s holding said in a statement on Tuesday.

"Supplementary agreements to the long-term contract on sale and purchase of gas via the eastern route were signed during the meeting. In particular, the shift to payments for supplies of Russian gas to China in national currencies of the countries, rubles and yuan, was registered," the statement said.

The new payment mechanism is a mutually beneficial and reliable solution, Chief Executive Officer of Gazprom Alexey Miller said. "I believe it will simplify payments, become an excellent example for other countries, and jump-start our economies," Miller said.

Gazprom CEO and Chairman of CNPC Dai Houliang also discussed the project on supplies of pipeline gas from Russia to China via the Far Eastern route, as well as the implementation of projects on gas pipelines Power of Siberia 2 in Russia and Soyuz Vostok in Mongolia, which will connect Russia’s and China’s gas transport systems.

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