Gazprom said that it has signed a long-term sales and purchase deal with China National Petroleum Corporation (CNPC) to supply natural gas to the latter through the Far Eastern route.

The agreement will enable Gazprom to increase the amount of gas volumes from Russia to China by 10 billion cubic meters. Overall, the amount of Russian gas supplied to China will be 48 billion cubic meters per year, which includes deliveries through the Power of Siberia gas pipeline.

According to the Russian energy company, the agreement is a major step towards further bolstering the mutually beneficial cooperation in the gas sector between Russia and China.

Alexey Miller — Gazprom Management Committee Chairman said: “This is already a second contract to be signed for Russian gas supplies to China, and it is indicative of the exceptionally strong mutual trust and partnership between our countries and companies. Our Chinese partners from CNPC have already seen for themselves that Gazprom is a reliable gas supplier.”

In 2014, Gazprom signed a 30-year sales and purchase agreement with CNPC for supplying 38 billion cubic meters of gas per annum to China through the eastern route via the Power of Siberia gas pipeline.

  Alexey Miller, China, CNPC, Gazprom, Oil and gas industry news, Oil and gas news, Power of Siberia, Russia