RUSSIAN state-owned energy company Gazprom will sign an “important” agreement with Chinese corporation CNPC next week during President Vladimir Putin’s visit to China, Kremlin foreign policy aide Yuri Ushakov said yesterday.
He said there would be three documents related to Gazprom, but declined to give details.
Russia is keen to expand oil and gas exports to Asia after losing most of its access to European markets because of Western sanctions in response to Russia’s conflict with Ukraine.
Two industry sources told Reuters that China was seeking to buy more Russian gas through an existing pipeline as talks between the two countries have failed to make progress on building a second link.
Russia began deliveries to China in 2019 from East Siberia via the Power of Siberia 1 pipeline. The pipeline is expected to reach its planned annual capacity of 38 billion cubic metres this year.
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