Russian, Chinese energy companies ink feasibility study deal

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MOSCOW, March 21 (RIA Novosti) - Russia's electricity monopoly said Tuesday it had signed an agreement with China to carry out a feasibility study for energy supplies to the Asian giant.

RAO UES head Anatoly Chubais and Liu Zhenya, general director of Chinese State Power Grid Corporation, signed a document saying the companies intend to finalize a long-term deal on energy supplies, including extensive construction of power-generating facilities in Russia and power grids in China, RAO UES said in a press release.

The companies agreed on the basic price of supplies, which will determine export prices.

Under the agreement, a joint working group will be set up to carry out a feasibility study on annual exports of 60 billion kWh from Russia to energy-hungry China.

An agreement signed by the companies July 1, 2005, laid the groundwork for future energy cooperation.

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