CHINA / National
Russia signs deal to build gas pipelines to China
By Qin Jize (China Daily)
Updated: 2006-03-22 05:55
Russia will build two large gas pipelines to China within five years, it
was announced yesterday. (click here for full coverage)
The two countries will also continue a feasibility study on extending a
Siberia-Pacific coast oil pipeline to China.
Chinese President Hu Jintao (R) exchanges a contract with Russian
President Vladimir Putin during a signing ceremony at the Great Hall of
the People in Beijing March 21, 2006. [Reuters]
The high-profile energy deals were announced after nearly two hours of
talks between President Hu Jintao and his visiting Russian counterpart
Vladimir Putin.
The two leaders issued a joint declaration and witnessed the signing of
15 agreements on energy supplies, trade and investment.
According to the joint statement, energy is one of the main components of
the strategic partnership between the two countries; and both sides plan
"to implement a strategy of diversification in the energy sphere."
The statement stressed that the "energy departments and companies of the
two countries are working actively to promote pipeline projects to supply
crude oil and natural gas from Russia to China."
China National Petroleum Corp (CNPC), the country's biggest energy firm,
and Russian gas giant Gazprom signed a contract for the building of two
gas pipelines reportedly costing up to US$10 billion.
Gazprom Chief Executive Alexei Miller was quoted as saying that one of
the pipelines would deliver gas from west Siberia and the other from
Russia's Far East; and each of the pipelines would be capable of
delivering 30 to 40 billion cubic metres of gas each year. China is
reported to have consumed about 39 billion cubic metres of gas in 2004.
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