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Russia and China sign major energy deal

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4 Feb, 2022 11:44

Russia and China sign major energy deal

The 30-year agreement will boost gas supplies by 10 billion cubic meters and will be settled in euros

Russia’s Gazprom and the China National Petroleum Corporation (CNPC) signed a second long-term contract on Friday for the supply of 10 billion cubic meters (bcm) of natural gas from the Russian Far East. The agreement comes as Russian President Vladimir Putin is in China on an official visit.

According to Gazprom, the agreement is “an important step in further strengthening mutually beneficial cooperation between Russia and China in the gas sector.” After the project reaches its full capacity, the volume of Russian pipeline gas supplies to China via the Far East route will reach 48 billion cubic meters per year (including deliveries via the Power of Siberia gas pipeline).

Gazprom’s largest natural gas deposit in the Far East is the Yuzhno-Kirinskoye field, where production is due to begin in 2023.

“The signing of the second contract for the supply of Russian gas to China testifies to the highest level of mutual trust and partnership between our countries and companies. Our Chinese partners from CNPC confirm that Gazprom is a reliable gas supplier,” the head of Gazprom, Alexey Miller, said.

Russian energy supplies to China have reached record highs, according to Kremlin aide Yury Ushakov.

Rosneft, CNPC agree on supply of 100 mln tonnes of oil through Kazakhstan in 10 years
4 FEB, 17:44

MOSCOW, February 4. /TASS/. During the visit of Russian President Vladimir Putin to China, Rosneft and China National Petroleum Corporation (CNPC) signed an agreement on the supply of 100 million tonnes of oil through Kazakhstan over 10 years, the Russian company reported.

"Crude oil will be processed at factories in northwest China to meet the country's needs for petroleum products," the company said.

According to the Kremlin website, the new agreement amends the oil supply agreement signed on June 21, 2013 between Rosneft and CNPC. This contract was signed for a period of 25 years and provided for the supply of 325 million tonnes of oil to the Chinese company. In December 2016, the companies entered into an additional agreement to increase oil supplies to China through the territory of Kazakhstan.
 
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4 FEB, 17:44

Rosneft, CNPC agree on supply of 100 mln tonnes of oil through Kazakhstan in 10 years

MOSCOW, February 4. /TASS/. During the visit of Russian President Vladimir Putin to China, Rosneft and China National Petroleum Corporation (CNPC) signed an agreement on the supply of 100 million tonnes of oil through Kazakhstan over 10 years, the Russian company reported.

"Crude oil will be processed at factories in northwest China to meet the country's needs for petroleum products," the company said.

According to the Kremlin website, the new agreement amends the oil supply agreement signed on June 21, 2013 between Rosneft and CNPC. This contract was signed for a period of 25 years and provided for the supply of 325 million tonnes of oil to the Chinese company. In December 2016, the companies entered into an additional agreement to increase oil supplies to China through the territory of Kazakhstan.

Another contract worth more than $100 billion.
Now Russia has enough money to play games with Ukraine.
 
How big is the piece of cake for Kazahkstan? I assume they get royalties or lease.
 
4 FEB, 23:10
Kremlin reveals number of approved agreements during Putin’s visit to China
There are 16 intergovernmental, interdepartmental and commercial documents

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© Alexei Nikolsky/Russian Presidential Press and Information Office/TASS​

MOSCOW, February 4. /TASS/. A package of 16 intergovernmental, interdepartmental and commercial documents was approved as part of the visit of Russian President Vladimir Putin to China. The list of documents was posted on the Kremlin’s website on Friday.

The Joint Statement of the Russian Federation and the People’s Republic of China on the International Relations Entering a New Era and the Global Sustainable Development was adopted during the Sino-Russian summit talks.

In particular, the Russian state corporation Roscosmos and the Chinese Satellite Navigation System Commission signed a cooperation deal in the sphere of mutual complementarity of the GLONASS and Beidou global satellite navigation systems.

The Russian Ministry of Economic Development and China's Ministry of Commerce made a joint statement on the completion of developing a roadmap for mutual trade in goods and services and signed a memorandum of understanding for deepening investment cooperation in sustainable (green) development areas.

The customs authorities of Russia and China signed a protocol on mutual recognition of the status of an authorized economic operator. The parties approved 11 intergovernmental and interdepartmental documents in total.

Four commercial contracts were signed during the visit. Gazprom and CNPC inked a long-term contract for the delivery of 10 bln cubic meters of natural gas over the Far Eastern route. Rosneft and Huawei sealed a deal on cooperation. Rosneft and CNPC signed an agreement on the deliveries of 100 mln tonnes of oil via Kazakhstan over a decade and approved a memorandum of understanding to cooperate in the low-carbon development sphere.

 
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