China, Russia ink long-awaited gas deal
2014/5/21 From: news.cn Views
SHANGHAI, May 21 (Xinhua) -- China and Russia on Wednesday signed a long-awaited gas deal in Shanghai, ending a decade of natural gas supply talks between the two neighbors.
The 30-year deal came one day after visiting Russian President Vladimir Putin said that "significant progress" had been made over price.
Two documents, China and Russia Purchase and Sales Contract on East Route Gas Project and a memorandum, were signed at a ceremony attended by Chinese President Xi Jinping and Putin.
The talks have repeatedly stalled over price. The agreed price in the latest deal is not known.
According to a news bulletin on the website of China National Petroleum Corporation (CNPC), the contract will see the east route pipeline starting providing China with 38 billion cubic meters of natural gas annually from 2018.
In 2013, CNPC signed a framework gas supply agreement with Russia's Gazprom, the world's largest gas company.
"The deal...fully embodies the principle of mutual trust and mutual benefit of China and Russia," said the bulletin.
It said the agreement will accelerate economic and social development in Russia's far east region.
The gas will come from the Kovyktin and Chayandin gas fields in eastern Siberia of Russia and will be piped to China's northeast, the Beijing-Tianjin-Hebei metropolitan area in the north and the Yangtze river delta in the east.
China and Russia have vowed to strengthen cooperation in energy and infrastructure in Russia. According to a joint statement signed by the two leaders after their talks on Tuesday, they will "establish a comprehensive energy cooperation partnership".
CNPC chairman Zhou Jiping, and Wu Xinxiong, head of China's National Energy Administration and deputy head of the National Development and Reform Commission, China's top economic planner, signed the latest deal on the China's behalf.
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