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GAZPROM

September 13, 2003

The results of the working meeting of Alexey Miller and Chinese governmental delegation

On 12 September 2003, a working meeting of Mr. Alexey Miller, Gazpromís Management Committee Chairman, Mr. Ma Kai, Chairman of the State Committee of China for the Development and Reforms, and Mr. Ma Futsai, President of the China National Petroleum Corporation (CNPC), was held at Gazpromís headquarters.

During the meeting the parties discussed the prospects of the Russian-Chinese collaboration in the gas sector, including the implementation of the West Ė East project.

Alexey Miller stressed that Gazprom attributes much significance to the development of cooperation with China in various business fields, including natural gas production, transportation, marketing and underground storage as well as LNG supply.

Ma Kai and Ma Fucai noted that there is a great potential for developing mutually beneficial collaboration between the two parties.

The parties discussed the Program of developing a united gas production, transmissionn and supply system in East Siberia and the Far East wherein Gazprom is the coordinator of the Programís implementation. The Program assumes, in particular, the possibility of Russian gas supplies to China and other Asia-Pacific countries.

Reference:

The West-East gas pipeline project assumes development of Chinaís Tarim basin fields, construction and operation of the 4,000+ km gas pipeline as well as gas marketing in Eastern China. According to the project, annual production and transportation of 12 bcm of gas is envisaged at the first stage.

At present, the share of natural gas in the fuel balance of China amounts to mere 2%. Due to the project implementation, the share could reach 10% in the nearest five years. Natural gas produced will be used in the residential sector, as a fuel and feedstock for the petrochemical industry and power generation.

The project is implemented by Gazprom, PetroChina, Royal Dutch/ Shell and ExxonMobil.

The program for the development of the united gas production, transportation and supply system, with the consideration of probable gas export to China and other Asia-Pacific countries, was elaborated under the RF Government Order 1975-p dated 16.07.02. Executives: Ministry of Energy of the Russian Federation and JSC Gazprom.

The basic principles of the Program are as follows: priority rights of the Russian consumers, secure gas supply of Russia through expansion of the Untied Gas Transmission System eastwards, market-driven pricing principles, common export policy, taking into valid Production Sharing Agreements.

Currently Gazprom, in cooperation with the Ministries and administrations concerned, is finalizing the elaboration of the Program.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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