Caixin OnlineBusiness & IndustryTop Stories Industry How China and Russia Came Together on Natural Gas Deal
05.07.2013 19:07

How China and Russia Came Together on Natural Gas Deal

For years CNPC and Gazprom were deadlocked over prices, but recent changes in global conditions nudged them toward an agreement
By intern staff reporter Huang Kaixi

(Beijing) – President Xi Jinping's state visit to Russia in late March brought advances that could end nine years of tough talks between China and its northern neighbor over natural gas transmission.

China National Petroleum Corp. (CNPC), the country's largest producer of gas, signed a memorandum of understanding with Russian energy giant Gazprom in late March. The two agreed that from 2018 to 2048 Gazprom would send 38 billion cubic meters of natural gas annually through a pipeline into China.

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