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Asia: Rosneft to discuss gas supplies to China with Gazprom: report

Asia: Rosneft to discuss gas supplies to China with Gazprom: report

Write: Khalil [2011-05-20]
p>Russia's largest oil producer, Rosneft, is to discuss with the country's gas monopoly Gazprom the possibility of supplying gas to China, Rosneft President Eduard Khudaynatov was quoted as saying Wednesday.


"Rosneft could supply gas to China and we would like to study the possibility of cooperation with Gazprom," Khudaynatov told journalists in the far eastern city of Petropavlovsk Kamchatsky, quoted by Ria Novosti news agency.


Khudaynatov added he would meet Gazprom CEO Alexei Miller in the near future to discuss cooperation.


"Entering the [Chinese] market together [with Gazprom] would be desirable," Khudaynatov was quoted as saying by Prime-Tass.


Monday, Gazprom signed a legally binding document with CNPC on the key terms for future supplies of Russian gas, with a final gas deal expected to be inked by July 1, 2011 and first delivery of gas targeted for December 2015, Platts reported previously.


Rosneft is also one of the country's largest independent gas producers, according to its website.


Gas output accounts for around 10% of Rosneft's total hydrocarbons production, the website said.


Rosneft gas production potential exceeds 55 billion cubic meters of gas and proven gas reserves were 816 Bcm of gas, as of the end of 2009, under Society of Petroleum Engineers approved PRMS standards.


The company's chief onshore gas reserves are concentrated in the West Siberian Yamal-Nenets Autonomous region.


Offshore, Rosneft has been producing gas from the Sakhalin-1 project, in which it has a 20% stake, since 2005.


China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html