Gazprom, CNPC, and China Development Bank Corporation have signed agreements to widen their cooperation in the energy sector.
In particular, they agreed to explore opportunities collaboration in the NGV sector.
“Gazprom and CNPC agreed to conduct a joint marketing study regarding the possibility of using LNG as a vehicle fuel along the Europe – China international transport route” Gazprom said in a statement.
In addition, Gazprom's CEO Alexey Miller and Zheng Zhijie, president of China Development Bank Corporation, signed a Memorandum of Understanding outlining “general principles of cooperation between the parties in arranging project or any other financing, including for the Amur GPP construction project.”
“Russian-Chinese cooperation in the gas sector continues to expand and the dynamic is encouraging” said Gazprom's CEO Alexey Miller.
“The agreements mark an important stage in the evolving relationship between Gazprom and Chinese companies as part of joint energy projects,” he added.
In 2014, Gazprom and CNPC signed a 30-year gas supply deal for the delivery of 38 billion cubic meters/year to China through the “Eastern route” (Power of Siberia gas pipeline).
China Development Bank Corporation, a Chinese state-owned institution providing financing, is part of Gazprom’s financial consultant consortium formed with a view to attract financing for the Amur GPP construction project, Gazprom said.
The Amur GPP will be Russia’s major gas processing facilities, with a nominal capacity of up to 49 billion cubic meters of gas a year, Gazprom had previously stated, adding this is "an essential part of the process chain of natural gas supply to China via the Eastern route."
Moreover, on June 25, 2016, Gazprom and CNPC signed a Memorandum of Understanding for the development of underground gas storage and gas-fired power generation in China.