RUSSIA & CHINA PARTNERSHIP
The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Li Hui, Chinese Ambassador to Russia.
The parties addressed the issues of further bilateral cooperation. The progress with the project for supplying Russian pipeline gas to China via the eastern route was positively evaluated. It was pointed out that the project was carried on according to the deadline.
The meeting also mentioned the formulation of the Purchase and Sale Agreement for Russian gas supply via the western route.
The meeting participants stressed that the departing year was seminal for the Russian-Chinese relations in the energy sector and expressed their confidence that the partnership would keep on gaining momentum.
On May 21, 2014 Gazprom and CNPC signed the largest Purchase and Sale Agreement in the history stipulating Russian pipeline gas supply via the eastern route. The 30-year contract provides for gas supplies to China in the amount of 38 billion cubic meters of gas per year.
The eastern route stipulates the delivery of Russian natural gas from the Irkutsk and Yakutia gas production centers to China via the Power of Siberia gas trunkline.
On November 9, 2014 Gazprom and CNPC signed a Framework Agreement for Russian natural gas supply to China via the western route.
The western route stipulates annual gas supply in the amount of 30 billion cubic meters from Western Siberia to China via the Altai gas pipeline during 30 years.
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PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.
Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.
ExxonMobil Development Africa B.V. has acquired a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.