China-Russia gas deal set to be signed
Updated: 2014-05-16 07:14
By Du Juan (China Daily)
|
|||||||||
"This estimated price is higher than our expectation," said Wang Ruiqi, senior analyst with Shanghai-based energy consultancy ICIS-C1 Energy.
She said even if China can seal the deal with Russia, the nation still needs to diversify its energy supply.
|
|
China became the third-largest natural gas user in 2013 with total consumption of 167.6 billion cubic meters, up 13.9 percent year-on-year, according to data from CNPC.
In addition to the pipeline's supply, CNPC signed a deal with the Russian government to acquire a 20 percent stake in the country's Yamal liquefied natural gas project. It's part of Chinese moves to raise its clean energy imports.
The company said the transaction was completed on Jan 14.
Last October, CNPC agreed to buy 3 million metric tons of liquified natural gas a year from Yamal LNG. The deal took effect this year.
The Yamal LNG project is located on the Yamal Peninsula in Northern Russia. It is a joint venture between Russia-based Novatek Inc, which owns 60 percent, France-based Total SA with 20 percent and CNPC, also with a 20 percent stake.
- China hosts major Asia security conference
- Xi vows support for Afghanistan reconstruction
- Security summit to help build mutual trust
- Russian president arrives for state visit
- China suspends cyber working group activities with US to protest cyber theft indictment
- China publishes latest data of US cyber attack
Most Viewed
Editor's Picks
Long march to end employment bias |
Missing 'bracelet' sets safety alarm bells ringing |
Hidden dangers, ruined lives |
Meeting mummy in the valley of the giants |
The city that's not forbidden, just avoided |
Saying goodbye to a life of grime |
Today's Top News
China slams indictments over cyber snooping
China's real estate market: collapse or managed slowdown?
Envoy seeks Chinese backers for key infrastructure projects
Andre Agassi will open 39 more charter schools
New JV forms world's largest auto interiors supplier yet
Improve Sino-US military ties
US envoy seeks Chinese backers for key projects
China summons US ambassador over indictment
US Weekly
Geared to go |
The place to be |