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Publish Date : 08-Sep-2016

An engineering, procurement and construction contract is signed by Russian Gazprom and Chinese CNPC to construct the underwater crossing of cross-border gas pipeline, Power of Siberia, under the Amur river. The contractor for the project will be the China Pipeline Bureau, a part of CNPC.

As per to a Gazprom statement, the contract was signed by Gazprom CEO Alexei Miller and CNPC chairman Wang Yilin on the sidelines of the G20 summit in Hangzhou, China.

Gazprom and CNPC in 2014 entered the sale-purchase agreement for gas to be supplied through the eastern route (Power of Siberia gas pipeline). The 30-year agreement offers for Russian gas deliveries to China in the amount of 38bn m3 every year.

The two parties in addition entered an initial agreement for pipeline deliveries of natural gas from Russia to China via the western route (Power of Siberia 2 gas pipeline) in 2015. At the early stage, 30bn m3 of gas is planned to be yearly delivered from Western Siberian fields.

In the meantime to discuss cooperation in LNG space Miller met with officials from Japanese Mitsui and Korean Kogas on September 2. Miller and Masami Iijima, representative director of Mitsui, met at the Eastern Economic Forum in 2016 Vladivostok to talk about LNG production within the Sakhalin II project. A MoU was signed by Miller and Iijima to cooperate in feasibility and marketing studies with regard to the bunkering of marine vessels with LNG in Russia's Far East and the Asia-Pacific region.

Miller said, Gazprom and Mitsui have successfully cooperated on the Sakhalin II project. Now we have an excellent opportunity to partner in a new business area small-scale LNG. Joint efforts in the bunkering industry will help our companies diversify our businesses and strengthen our positions in the dynamic Asian market.

Miller to discuss partnership in the energy sector, namely Russian LNG supplies from the Sakhalin II project met with Lee Seung-hun, president and CEO of Kogas on the same day.

Gazprom said that the parties discussed, among other things, the prospects for boosting gas exports to Korea after the commissioning of the third train of the LNG plant.

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