29 Nov 2022 11:03

CNPC chairman: Far East gas pipeline, Arctic LNG 2 projects need accelerating

MOSCOW. Nov 29 (Interfax) - Construction of the new gas pipeline in Russia's Far East, as well as implementation of the Arctic LNG 2 project, need to be accelerated, said Dai Houliang, chairman of the board of directors of China National Petroleum Corporation.

It is necessary to guarantee the security of supplies, Dai Houliang said at the fourth Russia-China Energy Business Forum in Moscow.

"It is necessary to ensure the security of energy supplies and trade with oil and gas pipelines, the Yamal LNG project, and to speed up the construction of a pipeline in the Far East and the implementation of the Arctic LNG 2 project. It is also necessary to maintain the leading role of energy projects in bilateral trade and guarantee the security of supplies of traditional forms of energy, oil and gas," he said.

Russia and China are preparing to sign an intergovernmental agreement on a project to supply gas to China from Russia's Far East, reports have said. Gazprom and CNPC signed a long-term contract for the sale and purchase of natural gas via Russia's Far East route on February 4, 2022.