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Gazprom signs cooperation agreements with Chinese companies

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LNG Industry,

Gazprom has released a statement claiming that it has signed a number of agreements with CNPC and China Development Bank Corp. for deeper cooperation. The documents were signed in the presence of Dmitry Medvedev – the Prime Minister of the Russian Federation – and Li Keqiang – the Premier of the State Council of the People’s Republic of China.

The Chairman of the Gazprom Management Committee, Alexey Miller, signed an agreement with Xu Wenrong, the Vice President of CNPC, to cooperate in the field of mutual recognition of standards and conformity assessment results. The document provides for the joint development of intercorporate technical standards and the application of such standards by all parties.

In addition to this, the companies signed a memorandum to explore opportunities to cooperate in the natural gas vehicles (NGV) sector. Gazprom and CNPC also agreed to carry out a joint marketing study on the possible use of LNG as a vehicle fuel along the international transport route from Europe to China.

Miller also signed a memorandum of understanding (MoU) with the President of China Development Bank Corp., Zheng Zhijie, which outlines the general principles of cooperation between the parties in arranging project or any other financing, including for the Amur GPP construction project.

Miller said: “Russian-Chinese cooperation in the gas sector continues to expand and the dynamic is encouraging. Today, we signed important documents for bilateral partnership in a whole range of areas. The agreements mark an important stage in the evolving relationship between Gazprom and Chinese companies as part of joint energy projects.”

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