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NEWS & COMMENTARY 2008 SPEAKERS 2007 2006 2005

Saturday, August 05, 2006

Russian, Chinese firms to conduct joint energy work abroad

Russian natural gas giant Gazprom and China's CNPC plan to conduct a study to examine the possibility of joint participation in prospecting, extraction and sales of oil and gas in third countries.

Alexander Ananenkov, deputy board chairman of Gazprom, and Zhou Jiping, vice president of CNPC, made the announcement Thursday at the fourth session of the joint coordinating committee in St. Petersburg, Gazprom's press service reported.

"Committee members pointed to the significant advancement of cooperation in engineering services in underground gas storage and design of extraction facilities in China. Gazprom and CNPC have signed several contracts in the sphere and worked under them. A working group has been set up for cooperation in science and technology," the release said.

The committee plans to hold its next session in China in the fourth quarter of the year.

During Russian President Vladimir Putin's visit to China in October 2004, state-controlled Gazprom and state-owned CNPC secured a strategic cooperation agreement.

During Putin's visit to China last March, the two sides concluded a protocol dealing with natural gas deliveries from Russia to China, addressing the timing, volume and routes of gas deliveries and pricing.
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