Gazprom (Russia) and China National Petroleum Corporation (CNPC) are getting ready to sign contract for Russian gas supply to China. Negotiations are progressing as per schedule and the contract would enter into force in accordance with the previously agreed Major Terms – till late 2014.
In October 2009 Gazprom and CNPC inked the Framework Agreement on the major terms and conditions of natural gas supply from Russia to China. The Agreement stipulates exports of up to 68 bcm/year of gas to the Chinese market. In September 2010 the Extended Major Terms of natural gas supply from Russia to China were signed. In March 2013 Gazprom and CNPC signed the Memorandum of Understanding for cooperation between the two companies in pipeline gas deliveries to China via the eastern route. In September 2013 Gazprom and CNPC inked the Agreement on the major terms and conditions of pipeline gas supply from Russia to China via the eastern route.