Russia's gas giant Gazprom and China's oil and gas corporation CNPC have agreed key elements of a deal for Russian gas supplies to China, Gazprom said on Wednesday.
"The parties have come to an agreement about key terms and parameters of forthcoming Russian natural gas supplies to the Chinese market from 2015," Gazprom said, adding that it planned to supply China with 30 billion cubic meters per year.
The companies plan to sign up to further points on key supply terms at the end of September, which will become the cornerstone of a final contract.
Gazprom Deputy CEO Alexander Medvedev has said the agreement on the core terms of supply, including volumes, cutoff points and take-or-pay terms, will be signed during a visit to China by President Dmitry Medvedev at the end of September.
In June, Alexander Medvedev said that Gazprom would set the final price of gas supplies in the middle of 2011.
Russia and China signed a gas supply memorandum in 2006, but a framework agreement was signed only in 2009 as the parties could not agree on prices.
The gas will be supplied from Western Siberia, and Eastern Siberia and Russia's Far East and Sakhalin.
MOSCOW, September 22 (RIA Novosti)
