Gazprom and the China National Petroleum Company (CNPC) have agreed to conclude talks on the long-stalled Russo-Chinese natural gas deal by year’s end.
Russian gas exports to China would include 38 Bcm. A significant possibility will exist for future deals regarding LNG transfers from Russia to China as well.
Moscow gave up the idea of a western pipeline from Russia’s Altai Republic that would annually ship another 32 Bcm to China’s western regions. Looming pressure in international markets stemming from the shale bonanza in the U.S. also forced Moscow to make a concession here.