Alexey Miller called the new payment mechanism “a mutually beneficial, timely, reliable and practical solution.”
Russian gas monopoly Gazprom and China National Petroleum Corporation (CNPC) convert payments for supplies through the Power of Siberia gas pipeline into rubles and yuan. Gazprom’s press service reported this on Tuesday, September 6.
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An agreement on this was reached at a meeting between Gazprom CEO Alexei Miller and CNPC Board of Directors Chairman Dai Houliang, held as a conference call within the framework of the Eastern Economic Forum.
It is indicated that during the meeting, additional agreements were signed on a long-term agreement on the purchase and sale of gas along the “eastern” route (the Power of Siberia gas pipeline).
“In particular, there was a transition to making payments for the supply of Russian gas to China in the national currencies of the countries – rubles and yuan,” the company said.
Miller called the new payment mechanism “a win-win, timely, reliable and practical solution.”
Gazprom recalled that in February of this year they signed a second long-term agreement on gas supplies to China with CNPC. After the project reaches its full capacity, the volume of gas supplies through the “Far East” route should increase by 10 billion cubic meters. m per year and together will reach 48 billion cubic meters. m per year.
It is also reported that Gazprom has started designing another gas pipeline in China – Soyuz Vostok. It will allow the delivery of up to 50 billion cubic meters. m of Russian gas per year to China.
Gazprom has significantly reduced gas production and exports
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Source: korrespondent
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