Gazprom, CNPC approve roadmaps to implement MoU on gas storage, power project

Jul 22, 2016 12:00 AM

Gazprom and CNPC have approved the roadmaps for implementing the MoU on underground gas storage and gas-fired power generation in China.

The issue came up during a working meeting between Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Wang Dongjin, Vice President of CNPC in St. Petersburg on Thursday.

The parties signed the MoU in June this year. The two parties will study prospects of creating underground reservoirs to store natural gas on China’s territory. An analysis and assessment of geological, technological and economic conditions of creating gas storage facilities in Daqing, Jiangsu and Baiju will be carried out.

Meanwhile, Gazprom said that construction of the Power of Siberia gas pipeline was running strictly on schedule.

In 2014, Gazprom and CNPC signed the sale-purchase agreement for gas to be supplied via the eastern route (Power of Siberia gas pipeline). The 30-year agreement provides for Russian gas deliveries to China in the amount of 38 billion cubic meters per year.

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