Gazprom, CNPC pledge stronger ties

ISTANBUL - Hürriyet Daily News

China National Petroleum Corporation (CNPC), the largest state-owned petroleum company in China, and Russia’s energy giant Gazprom opened a new round of commercial negotiations in the Chinese city of Chengdu yesterday.

Gazprom Deputy Chairman Alexander Medvedev and CNPC Vice-President Wang Dongjin presented the parties at yesterday’s meeting, a written statement from the Russian company said.

Joint collaboration

The two companies discussed the state of their cooperation and its growth potential, as well as the subject and timing of joint research aimed at establishing the optimum characteristics for further collaboration between the two companies in the Chinese gas market.

The meeting resulted in an agreement to send a team of Gazprom technical specialists to the shale gas fields developed by CNPC, within the framework of a know-how exchange mechanism. During the first trip, scheduled for today, Gazprom experts will visit production facilities at the Changning deposit in the vicinity of the city of Yibin in Sichuan province.