POST Online Media Lite Edition


China-Russia gas deal details not finalized

Staff writer |
PetroChina's CEO Wang Dongjin said that the advance payment issue concerning China-Russia gas deal was not mentioned in the agreement and is likely to be addressed in the next discussion, according to

Article continues below

The multi-billion deal has been under negotiation for nearly 10 years and was finally reached on May 21. It was signed by Zhou Jiping,chairman of PetroChina,and Alex Miller, CEO of Russia's Gazprom. However,t he details are still to be worked out,and some issues were not mentioned in the final deal, according to Wang.

He added that the advance payment process is a complicated issue that needs approval of government agencies, so both parties might discuss it in the next round of talks. The purchase price was "very competitive" in the future Chinese natural gas market, said Wang.

What to read next

Iranian oil supplies to Russia may start shortly
Russia and China to sign $456 billion gas deal
Indonesia, Russia sign deal to trade palm, coffee for Sukhoi jets