July 4, 2017

Alexander Novak takes part in talks with Chinese President Xi Jinping

Russian Minister of Energy Alexander Novak took part in talks between Russian President Vladimir Putin and President of the People’s Republic of China Xi Jinping as well as a meeting between Russian Prime Minister Dmitry Medvedev and the Chinese leader. The meeting participants noted that energy is a priority focus of bilateral cooperation: Russia is a leading supplier of oil to China, the construction of the Power of Siberia gas pipeline is on schedule, the parameters of the ‘Western’ route are being negotiated, and construction of the Yamal LNG plant – in which Russia’s Chinese partners own a significant stake – is in its final stage. A number of bilateral documents were signed in the presence of the Russian and Chinese presidents, including Addendum No. 1 to the Agreement on the Sale of Natural Gas via the ‘Eastern Route’ between Gazprom PJSC and the Chinese National Petroleum Corporation dated May 21, 2014, which envisages the start of natural gas supplies as early as December 2019, in addition to the Agreement Confirming the Completion of the Purchase of a 20% Stake in Verkhnechonskneftegaz PJSC between Rosneft Oil Company PJSC and the Beijing Enterprises Group Company Limited. Source: minenergo.gov.ru