The sides have agreed to study opportunities for mutually advantageous cooperation on China's gas market. Particularly, the possibility of realization of joint projects in the building and service of low-pressure municipal networks will be considered.
Under the protocol, the sides will consider concluding an agreement on cooperation between the companies, Gazprom's purchase of China Gas Holdings Ltd. block of shares, setting up a joint venture for investments in gas projects in China.
A joint working group will be set up to prepare matters of cooperation.
"The protocol one more time demonstrates Gazprom's interest in the realization of projects on the Chinese gas market, which in the opinion of the company's specialists will intensively develop in the near future", the company said. The OAO Gazprom office in China is considering the possibility of arranging cooperation with other companies operating on the Chinese market.
The Gazprom press service recalled that China Gas Holdings Ltd. has projects for building local gas pipelines and a gas-distribution infrastructure in six provinces of China. In addition, the company plans investing in similar projects in other provinces.
Now, the share of the gas-distribution market of China Gas Holdings Ltd. is estimated at 20 percent. Its shares are quoted at the Hong-Kong stock exchange.
