Wednesday, September 21, 2005

Russian Gazprom supply gas to China

Beijing, Sept 21 - Russia's natural gas giant Gazprom said Wednesday it is in talks with China National Petroleum Corp (CNPC) to supply around 60 billion cubic metres of gas a year to China via two pipelines.

"We are meeting with CNPC today or tomorrow to talk about supplying gas. We are in the initial stages of negotiations," Gazprom Deputy Chairman Alexander Medvedev said at a press briefing.

The company was planning to pipe 20-30 million cubic metres of gas annually to China's western Xinjiang region and 20-30 million cubic metres each year to the northeast of the country.

"We are considering investing as much as necessary to supply gas to China," he added, without detailing costs.

Gazprom was also interested in helping to build pipelines for the gas inside China, Medvedev added.

"If the Chinese government supports the idea (of Gazprom investing in Chinese pieplines) we will be interested in operating such projects," he said.

Separately, Gazprom was in talks with China National Offshore Oil Corp (CNOOC) to supply Liquefied Natural Gas (LNG) to China's gas terminals.

"We are planning to take part in international LNG projects which could supply China," said Medvedev.

"We could see results by the end of this year."

Earlier this month CNOOC, the country's dominant producer of offshore oil and gas, said it wanted to diversify its import sources of LNG.

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