.Gazprom, CNPC to sign expanded terms of gas supply to China.

27/9 Tass 73

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BEIJING, September 27 (Itar-Tass) - The Russian natural gas giant
Gazprom and the Chinese National Petroleum Corporation (CNPC) will sign
Monday expanded main terms for Russian gas supplies to China, Gazprom
Board Deputy Chairman and Gazpromexport Director General Alexander
Medvedev told journalists.
He specified that "under the current road map, no later than July 1,
2011, the sides will sign a contract on Russia's gas supplies to China
that will outline the routes, the amounts and the price."
Medvedev declined to a question what preliminary price was considered.
To a supposition that the price may be equal to 150 US dollars per 1,000
cubic metres he only noted "don't make me laugh."
RF Vice Prime Minister Igor Sechin told journalists earlier on Monday
that "Russia is ready to satisfy China's natural gas demand in full
volume."
Last week, Sechin said that Russia and China would agree on price
parameters for the supplies of gas from Russia over first six months of
2011. "Detailed results will be evident in the beginning of 2011," he
noted.
Following another round of the Russia-China energy dialogue, Sechin
said that if the timing of the negotiations is observed, the supplies may
start in 2015. The talks have shown progress already, he added. The sides
discuss locations and volumes of the supplies. Russia and China planned to
finalise the discussion of basic parts before the visit of Russia's
President Dmitry Medvedev to China.
Moscow and Beijing planned to sign special conditions for the supplies
of gas from Russia in late September over the visit of Russia's President
Dmitry Medvedev, Alexander Medvedev told reporters. The document will fix
the volumes, time frames, and the so-called take-and-pay condition.
-0-ezh


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