Gazprom, CNPC See Cooperation Opportunity in NGV Sector

Russian Gazprom, China National Petroleum Corporation and China Development Bank Corporation have agreed to co-operate in wide variety of energy related sectors.

The parties signed a memorandum to explore the opportunities for co-operation in natural gas vehicles. Gazprom and CNPC agreed to conduct a joint marketing study regarding the possibility of using LNG as a vehicle fuel along the Europe–China international transport route, Gazprom said November 7. The parties also signed an agreement to co-operate in the field of mutual recognition of standards and conformity assessment results.

Gazprom and China Development Bank Corporation signed a memorandum of understanding outlining the ways in which the parties would arrange project or any other financing, including for the Amur gas processing plant. The documents were signed in St Petersburg.

Shardul Sharma