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    Gazprom, CNPC, China Huaneng Group Agree on Electric Power Industry Cooperation

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    Gazprom and its' Chinese counterparts agreed on cooperation in the sphere of electric power industry, the Russian energy giant said in a statement Monday.

    MOSCOW (Sputnik) — Gazprom, CNPC and China Huaneng Group agreed on cooperation in the sphere of electric power industry on the territory of China, the Russian energy giant said in a statement Monday.

    "Alexey Miller and Wang Yilin [CNPC chairman] signed a memorandum of understanding between PJSC Gazprom, CNPC and China Huaneng Group on cooperation in electric power industry on Chinese territory. The document indicates the intention of the parties to explore the possibility of joint implementation of projects to build thermal power plants," the statement said.

    Moreover, Gazprom and CNPC signed a contract for pre-design research of a project to build underground gas storage facilities in China, the Russian energy giant said following a meeting between Gazprom CEO Alexey Miller, and CNPC Chairman Wang Yilin.

    "In the presence of Alexey Miller and Wang Yilin, three contracts were concluded for pre-design studies for the construction of underground gas storage facilities," the statement said.

    Meanwhile, Russian energy giant Gazprom said Monday it has begun negotiating the timing of the launch of gas deliveries to China through the Power of Siberia pipeline with the China National Petroleum Corporation (CNPC).

    "The sides started discussion of the exact deadlines for the start of gas delivery via the Power of Siberia pipeline as part of the existing contract," the statement said in the follow-up to the meeting between Gazprom CEO Alexey Miller and CNPC chairman Wang Yilin.

    In addition, Gazprom and CNPC discussed the supply of gas from Russia's Far East to China and hope to agree on the project's terms by the end of 2017, the statement noted.

    In late May 2014, Gazprom and CNPC signed an agreement on the delivery of Russian gas to China via the eastern route. The deal is valid of 30 years and provides for delivery of 38 billion cubic meters of gas a year though the Power of Siberia.

    The Power of Siberia is 3,000 kilometer (1,864 mile) pipeline designed to transfer gas from gas production centers in Russia’s Irkutsk Region and Sakha Republic to the consumers living in Russian Far East and China.

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    power, electricity, China National Petroleum Corporation (CNPC), Gazprom, China, Russia
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