Russian companies Gazprom and Rosneft have entered into agreements with China National Petroleum Corporation (CNPC) to supply gas and oil to China. This was reported on the website of the Kremlin, which cited a list of documents adopted during the visit of Russian President Vladimir Putin to China.
The volume of gas supplies via the «Far East» route will increase by 10 billion cubic meters per year and in total will reach 48 billion cubic meters per year, taking into account deliveries through the Power of Siberia gas pipeline, Reuters notes. Press Secretary of the Russian President Dmitry Peskov clarified that the agreement on the supply of Russian pipeline gas is designed for 25 years.
Rosneft, in turn, signed an agreement on the supply of 100 million tons of oil for refineries in the northwest China. According to the document, oil will be supplied through Kazakhstan for 10 years, the press service of the Russian company said. =»» />
Photo: Kremlin press service/kremlin.ru
According to RBC, the shares of Rosneft and Gazprom are positive respond to the conclusion of CNPC long-term agreements. In particular, Rosneft is growing by more than 5%, while Gazprom's shares on the Moscow Stock Exchange rose by 2.35%.
Putin arrived in China on February 4 on the eve of the opening of the Winter Olympic Games in Beijing. He is accompanied by Rosneft CEO Igor Sechin and Energy Minister Nikolai Shulginov. The Russian President held talks with Chinese President Xi Jinping.