BEIJING (Sputnik) — Russia's Rosneft and Beijing Enterprises Group Company sign agreement on basic conditions for cooperation within framework of Verkhnechonskneftegaz (VCNG) project and purchase of 20 percent of it by the Chinese side, Rosneft's CEO Igor Sechin said Saturday.
"A very important agreement about Beijing Gas [unit of Beijing Enterprises Group Company] participation in the VCNG where we signed the agreement on the basic cooperation principles defining the price parameters. The size of the share is 20 percent. The document is binding. And as we pass the relevant procedures, we will finish this deal," Sechin said.
The Russian governmental delegation headed by President Vladimir Putin is on the official visit to China.