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«    March 2018    »

Gazprom and Chinese CNPC to sign a memorandum on underground gas storage

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Gazprom and Chinese CNPC to sign a memorandum on underground gas storage

Within the framework of a forthcoming visit to China by Russian President Vladimir Putin, a memorandum on establishing of underground gas storage facilities might be signed by Gazprom and Chinese CNPC, reports Vedomosti newspaper citing CNPC representative. Mr Putin is expected to arrive in China on the 25th of June.

The issue concerns a framework agreement on the facilities located on the territory of China. The Gazprom representative declines comment on the document until it is signed.

Gazprom and Chinese CNPC have long been discussing cooperation in the field of underground gas storage. In December, the media reported that the companies considered the possibility to establish a joint enterprise for gas storage on the territory of China and have determined potential projects. One of them is to be realized within the framework of the “Eastern” route and two – of the “Western” one.

In return, China expects to get an access to Russia’s recourses, a deputy director general of the National Energy Security Fund, Alexey Grivach, told the newspaper.

Gazprom and Chinese CNPC to sign a memorandum on underground gas storage

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