Gazprom, CNPC to Cooperate in Building Underground Gas Storage Facilities in China

Gazprom and China National Petroleum Corporation (CNPC) would cooperate to build underground gas storage facilities in China, TASS news agency reported Tuesday citing a statement from the Russian firm.

The decsion, taken during a meeting of companies’ joint coordination committee, would ensure reliable natural gas supplies from Russia to China.

The sides discussed a wide range of urgent issues of gas cooperation, in particular, the course of implementation of a project to supply natural gas from Russia to China along the eastern route, TASS said.

In May this year, Gazprom and CNPC signed a 30 year deal under which the Russian firm would supply 38 billion cubic meters of gas per year through the eastern route. In November, the two companies inked a second deal which envisions the supply of 30 bcm of gas to China annually from West Siberia deposits via the Altai gas pipeline.