Inked in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping, the document outlines the main technical and commercial parameters of the future supplies.
In addition, Alexey Miller and Wang Dongjin signed another Agreement of Strategic Cooperation (the previous ten-year Agreement expired in 2014) outlining the main areas of joint actions in the gas sector.
“The western route will provide access to the vast resources of Western Siberia for the Chinese market. The resource base is available. Gazprom will be able to start supplies upon completion of the gas pipeline. In the meantime, the western route will not affect the Power of Siberia project. The intergovernmental agreement on the eastern route is ratified. Gazprom will fulfill its obligations right on time,” said Mr Miller.
Gazprom and CNPC signed the Framework Agreement on Russian natural gas supply to China via the western route on November 10 2014.
The Power of Siberia is a gas trunkline intended for natural gas delivery from the Irkutsk and Yakutia gas production centers to the Russian Far East and China (eastern route).