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CNPC Inks Cooperation Agreements with Rosneft & Gazprom Respectively

Source: www.gulfoilandgas.com 7/5/2017, Location: Asia

On July 3 and 4 in Moscow, during Chinese President Xi Jinping's state visit to Russia, CNPC inked cooperation agreements on relevant projects with Rosneft and Gazprom respectively.

On July 3, CNPC Chairman Wang Yilin and Rosneft CEO Igor Sechin had a meeting and signed a cooperation agreement on behalf of the two sides. CNPC and Rosneft will further promote upstream cooperation in Russia and third countries, step up the establishment of the JV refinery in Tianjin, and carry forward collaboration in various fields.

On July 4, in the presence of the heads of state of both countries, Wang Yilin and Alexey Miller, Chairman of Gazprom Management Committee, signed a supplementary agreement to the sales and purchase agreement for Russian gas to be supplied via the eastern route, which was inked in 2014.

In order to ensure that the eastern route starts gas delivery on time, CNPC will speed up pipeline construction, market development, and construction of the auxiliary facilities of Amur GPP project and underground gas storages in China. CNPC and Gazprom also agreed to promote cooperation in gas supply from Far East, gas power generation, gas as vehicle fuel, and joint upstream development.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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