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Russia`s largest natural gas producer Gazprom will start supplying fuel to China through Siberia on Dec. 20. 2019. Gazprom Chief Executive Alexei Miller told reporters on Tuesday. after a meeting with China National Petroleum Company (CNPC).
CNPC chairman Wang Yulin and Gazprom`s Miller met during this week`s visit to Moscow by President Xi Jinping and signed a China-Russia supplementary purchase and sale contract. the state-owned Chinese company said on its website on Wednesday.
It did not provide further details.
The deal is the latest sign that Russia is tightening its ties with China. a major gas buyer. It comes at a time of turmoil for rival major exporter Qatar amid a dispute with its Gulf neighbors who have imposed political and economic sanctions on Doha.
The new pipeline. dubbed the `Power of Siberia`. has a planned annual capacity of 38 billion cubic meters.
CNPC added that it agreed to speed up the construction of pipeline and market development. as well as natural gas processing plants and domestic underground gas storage facilities to make sure the project starts on time.
Wang also met with Rosneft president Igor Sechin and discussed expanding crude oil trade. improving revenues from the Tianjin refinery project and expanding cooperation in exploration and development in Russia. the report said.
Miller said that natural gas consumption in China was set to reach 300 billion cubic meters annually in the next few years.
