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Tuesday, May 23, 2017

Russian gas supply agreement with China advances

The Russian government's Committee for Legislative Drafting Activities approved a draft law that would ratify an agreement with China on gas supplies, the Eurasian Development Bank reported on Tuesday. 

The agreement was initially agreed upon by representatives from both countries last fall. It is intended to enhance cooperation between the Russian Federation and the People's Republic of China within the energy sphere. 

The agreement stipulates what the main terms of cooperation are in sending natural gas supply to Chinese territory from Russia, including operation, construction and engineering that would be required. 

The draft law will now go to the Russian legislature for consideration. 

According to an earlier report from the bank, both the planned eastern and western supply routes could be launched at the same time. 

The agreement is also a part of a contract that was signed in May between Gazprom and China National Petroleum Corporation on the eastern gas supply route.

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