In November-December 2021, within the framework of cooperation with the China National Oil and Gas Company (CNPC), Gazprom significantly increased the volume of daily exports to China relative to the previously approved schedule for the current year, the Russian company said following negotiations between Gazprom Deputy Chairman Vitaly Markelov and Vice President of CNPC Huang Yongzhang. Gazprom plans to increase its daily export of raw materials in 2022.
“Gazprom continues to prepare for a further planned increase in gas exports in 2022 in accordance with the dynamics of increasing supplies envisaged by the contract,” the statement said.
During the videoconference, the meeting participants discussed the results of joint work in 2021. In particular, they noted the reliability of natural gas supplies via the Power of Siberia gas pipeline. They also discussed issues of cooperation between companies in the field of underground gas storage, scientific, technical and oil spheres.
In addition, Gazprom informed its Chinese colleagues about the progress in developing a feasibility study for the construction of the Soyuz Vostok gas pipeline to supply Russian gas to China via Mongolia.
Gazprom and CNPC entered into strategic cooperation in October 2004. The agreement concluded then provided for the study of issues related to the organization of gas supplies to China by Gazprom. In 2009, the companies signed a framework agreement on the basic terms of gas supply, which provides for export to the Chinese market up to 68 billion cubic meters. meters of gas annually. In September 2010, extended basic terms of delivery were signed.
For more details on how much Gazprom has estimated the gas supplies to China, see the Kommersant article “Power of Siberia in the Money”.
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