Gazprom and CNPC signed an addendum to the 2014 Sales and Purchase Agreement which paved the way for Russian gas exports to China via the Power of Siberia (PoS) gas pipeline. According to the additional agreement, gas supplies to China via the gas pipeline are expected to start in December 2019. The PoS gas pipeline is now under construction and once completed, it will make it possible to connect the Yakutia and Irkutsk gas production centres to the Far-East and Chinese regions.
In May 2014, CNPC and Gazprom signed a 30-year US$400bn supply agreement under which Russia will provide 38 bcm/y of natural gas to China. The gas supplies will be oil-pegged and the deal also contains a take-or-pay clause.
In May 2015, CNPC and Gazprom signed the Heads of Agreement (HoA) regarding the pipeline supplies and determined that the exports will be conveyed from the West Siberian fields to China through the PoS gas pipeline.
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