China's largest oil and gas company CNPC and Russian gas giant
Gazprom have reported a major progress in their natural gas
negotiations, Gazpom's deputy chairman Alexander Medvedev said
Saturday.
The negotiation, which touched on rising prices of crude oil and
gas pipes on the international market, was constructive but the two
sides hadn't agreed on specific prices, said Medvedev.
However, big progress was made in the negotiation, which paved the
way for a future agreement on specific prices, he said.
"I believe we will finally get a result that is acceptable to both
sides."
Medvedev said earlier in the day that the negotiation on the
Russian gas prices would not be influenced by the low prices at
which China had imported natural gas.
CNPC and Gazprom entered into a strategic partnership in October
2004. The two companies signed a deal in march 2006 to export
natural gas to China.
Under the deal, Russia will pipe 68 billion cubic meters of natural
gas to China each year by 2020.
(Xinhua News Agency November 18, 2007)
