RUSSIA & CHINA DEAL
Moscow and Beijing will sign an agreement on the pipeline shipping gas from Western Siberia to China by the end of the year, Foreign Minister Wang Yi said on Monday, adding that his government will intensify trade ties with Russia in the coming months.
"The China-Russia relationship is not dictated by international vicissitudes and does not target any third party... And the friendship between our two peoples provides a strong foundation for strengthening strategic cooperation between the two sides" Wang Yi commented on Sunday as reported on the website of the Ministry of Foreign Affairs of China's.
The Minister said that the bilateral trade should reach US$100 billion by the end of the year, with a strong focus on financial, oil and gas, and nuclear-power sectors.
"We will start full construction of the eastern route of the natural gas pipeline and sign an agreement on the western route of the pipeline. We will accelerate the joint development and research of long-distance, wide-body passenger jets. We will start strategic cooperation on the development of Russia's Far Eastern region" the Minister added.
According to the preliminary deal signed in November, Gazprom would ship 30 bcm (1 tcf) of gas per year to China National Petroleum Corporation through the Altai gas pipeline. Price remains the main hurdle.
Meanwhile, over the last days, Ukraine's stored gas decreased below the 8,000 mcm threshold. Data published by GIE on Sunday indicate that Ukrainian facilities are 24.88% full.
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Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.
Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.
Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.
Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years