Gazprom to Sign Gas Contract with CNPC in May

Gazprom’s Alexey Miller met the Chairman of China National Petroleum Corporation (CNPC) on Tuesday to step up the existing cooperation in view of the gas contract to be signed in May.

‘The parties addressed the state of the contract for pipeline gas supply from Russia to China via the eastern route. It was pointed out that preparations were well underway and nearing completion. Gazprom and CNPC are getting ready to sign the contract in May as was initially planned,’ reads a note released on Tuesday.

The deal underlines that the two countries have compatible needs. 

‘Alexey Miller and Zhou Jiping stressed that the launch of natural gas supply via the eastern route was strategically important for both countries. It means the access to a new major developing market of gas supply for Russia, and China will get a strong impetus to economic development and environmental improvement,’ explains the note.