On March 21, 2006, Gazprom and China National Petroleum Corporation signed in Beijing a protocol on natural gas supply from Russia to China, fixing the major accords on the supply timing, amount and routes, and gas pricing formula principles.
The parties plan to finalize the commercial talks on the Russian natural gas supply terms by year-end 2006 so that deliveries via the Western route could begin in 2011 already.
According to a statement released by the Russian gas giant, the latest round of talks saw the parties identify the paramount activities to be stepped up within the framework of the protocol on natural gas supply from Russia to China and agreed on a timetable of the commercial talks. The next meeting is to take place at the beginning of June 2006.
In the course of the talks the Chinese side confirmed that Russian gas deliveries remained a priority for China in view of its growing gas demand, Gazprom says.
