PJSC Gazprom Adr. (OGZPY)

[Lady-baron]

The Western Route... This is a big contract imo

Gazprom and CNPC sign heads of agreement for gas supply via western route Monday, May 11, 2015

The Gazprom Management Committee Chairman Alexey Miller and the CNPC Vice President Wang Dongjin signed today in Moscow the Heads of Agreement for pipeline gas supply from Russia to China via the western route. Inked in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping, the document outlines the main technical and commercial parameters of the future supplies.

In addition, Alexey Miller and Wang Dongjin signed today another Agreement of Strategic Cooperation (previous ten-year Agreement had expired in 2014) outlining the main areas of joint actions in the gas sector.

“The western route will provide access to the vast resources of Western Siberia for the Chinese market. The resource base is available. Gazprom will be able to start supplies upon completion of the gas pipeline.

In the meantime, the western route will not affect the Power of Siberia project. The intergovernmental agreement on the eastern route is ratified. Gazprom will fulfill its obligations right on time,” said Alexey Miller.