Gazprom and CNPC review progress of Eastern Route gas project

The Joint Coordinating Committee (JCC) of Gazprom and China National Petroleum Corporation (CNPC) has stated that the project to transport gas from Russia to China through the eastern route is advancing as per the schedule.

The JCC recently held a regular meeting in Beijing, which was attended by JCC co-chairmen Vitaly Markelov, Gazprom management committee deputy chairman of and CNPC vice president Wang Dongjin.

Gazprom is currently developing the Siberia gas pipeline that will transport natural gas from the Chayanda oil and gas condensate deposit located in Yakutia and the Kovykta gas condensate field in the Irkutsk Region in Eastern Siberia to China and also to the domestic market.

The new Eastern Route will supply 38 billion cubic metres of natural gas to China each year for 30 years, reported Tass.com.

The JCC also discussed a collaboration with regards to developing underground gas storage and gas-fired power generation in China.

Both companies also approved this year's work plans for special working groups within the JCC.

In 2014, Gazprom and CNPC signed the 30-year gas sales and purchase agreement, which will be supplied through the Power of Siberia gas pipeline, also known as Eastern Route.