Rosneft, CNPC to Deepen Energy Cooperation

Rosneft and Chinese National Petroleum Corporation (CNPC) signed an agreement for the extensions of strategic cooperation in the field of LNG project development.

Along with cooperation in the area of development of LNG projects which embraces potential Russian LNG supplies to China, the two companies also intend to collaborate in development of upstream projects in Russia and refinining in China (Tianjin Refinery).

The document was signed by Rosneft Head Igor Sechin and CNPC Vice President Wang Dongjin. The signing ceremony was led by the Prime Minister of the Russian Federation Dmitry Medvedev, Rosneft announced Monday.

After signing the agreement, Igor Sechin said: “Russia and China are interested in deepening and expanding cooperation in the oil and gas sector. Our companies have created a favorable environment for cooperation and we intend to further promote long-term mutually beneficial collaboration”.