MOSCOW : China is in talks with Russia's Rosneft, Gazprom and Novatek about the joint development of oil and gas fields and hydrocarbon trade, state-owned China National Petroleum Corporation (CNPC) said on Wednesday.
Russia is counting on a planned new pipeline to China as it seeks to make up for lost gas sales in Europe, but industry insiders see major political risks around a project that is overly dependent on one buyer and question whether it will justify the huge costs.
CNPC and Gazprom are working on speeding up Russian gas supplies to China via the Far Eastern route, he added. Gazprom later said it had signed an agreement with the CNPC and PipeChina on design and construction of a pipeline section in the Far East. Gazprom signed a second contract to supply 10 bcm per year via the Far Eastern route in February 2022.
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