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Russia To Build Gas Pipeline To China

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pipeline_1 September 29, 2010 (Chinavestor) Gazprom, Russia's state-controlled oil and gas giant, will begin construction on a new pipeline to deliver natural gas to China next year. The pipeline will transport natural gas to China through Russia's south Siberian Altai region. Gazprom confirmed the project at an oil and gas conference in Russia.

Earlier this week, Gazprom agreed to supply 30 billion cubic meters of gas annually to China over 30 years, beginning in 2015, Reuters reported. The company said it will decide on volumes for the pipeline next year and that China and Russia must also meet to decide on pricing.

Separately, Russia's Rosneft, that country's largest oil producer, reached an agreement to sell oil to China and that company is aiming for a natural gas deal with the world's largest energy consumer. Rosneft said it reached an agreement to sell 550,000 tons of crude to China.



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