Gazprom reported Thursday that it has signed a memorandum of understanding (MOU) with China National Petroleum Corp. (CNPC) regarding the project for pipeline gas supply from Russia's Far East to China, with China National Petroleum Corp. (CNPC).
The MOU was signed by Alexey Miller, chairman of the Gazprom Management Committee and Wang Yilin, chairman of the CNPC Board of Directors in a ceremony attended by Russian President Vladimir Putin and Chinese President Xi Jinping in Vladivostok.
Under the MOU, Gazprom and CNPC will set up a joint working group to conduct research on the gas supply project, with the results providing the key technical and commercial parameters of the development, including terms of delivery and a gas delivery point.
“The project for Russian gas supply from the Far East to China strengthens the strategic and mutually beneficial partnership between our companies,” Alexey Mille said.
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