Alexey Miller, head of Russian Gazprom recently met with Zhang Gaoli, vice premier of the State Council of China and CNPC Chairman, Wang Yilin.
During the meeting with Gaoli, steps in the bilateral strategic partnership in the gas industry, particularly Russian gas exports to China were discussed, Gazprom said in its statement.
The parties also discussed the prospects for cooperation in the field of underground gas storage and power generation in China.
At the meeting with CNPC’s chairman Wang Yilin, gas deliveries via the eastern route were touched upon. The project was running on schedule, Gazprom said.
The parties discussed the upcoming construction of the Power of Siberia cross-border section, as well as Russian gas supplies via the western route.
Following the two meeting, a memorandum of understanding was signed between Gazprom and CNPC to cooperate in the field of underground gas storage and gas-fired power generation.
Under the agreement, the two companies will will analyze and assess the geological, technological, and economic conditions for creating UGS facilities in Heilongjiang, Jiangsu, and Zhejiang.
A joint venture will be set up to implement UGS-related projects. By late August, the parties will examine and select target projects in the field of gas-fired heat and power generation from among those offered by CNPC in order to make an investment decision and choose an organizational and legal framework for projects to be executed.
LNG World News Staff