Sinopec Signed Natural Gas Payment Deal with Rosneft
Chinese oil giant Sinopec has signed a oil payment agreement with Russia Reosneft which was the international leading crude oil producer. According to the agreement, Sinopec would pay for Russian oil deliveries.
The 10-year contract will see that China pay 25-30 percent of the total costs and get 10 million ton of oil annually from 2014.
The Rosneft has issued terms to specific meeting its clients.
The visit of Russia Prime Minister Dmitry Medvedev to Beijing was to make the deal announcement and to make the first Russia natural gas delivery accessible to Chinese energy market.
The total value of the contract can reach at $85 billion.
The negotiators of the Russia representing Russia and China talks are the country's top oil and gas producers as well as Russian Energy Minister Alexander Novak.
Both Medvedev and Novak were confidential about another deal can be made, which the Russia natural gas would deliver to China before the end of the year.
At the meeting, it is officially announced the final agreement has been made.
The two companies have agreed on a formula. But the gas price is a key needing to negotiate.
Gas price has been the focus of the Russia and China during the many years of negotiation. The disagreement has led China turn to the Central Asian Energy.
There is potential that another agreement about the gas price and a contract would be signed under which Russia natural gas will be delivered to China in 2018-2020.
After the deal, China would have 38 billion cubic metres of gas flowing in its pipelines per year.
Related News
- The Importance of Oil Casing in Drilling Operations
- Functions and Applications of Blind Flanges
- Axial Flow Check Valve: Design, Function and Applications
- Spiral Wound Gaskets: Overview and Applications
- How to Choose the Perfect Pipes for Your Water Systems
- Essential Guide to Steam Trap Function and Selection
- How to Choose the Right Pipeline Connection Methods
- Pig Launcher & Receiver: Key Equipment for Pipeline Cleaning
- What are Automatic Recirculation Control Valves?
- Flexible Design of Industrial Pipeline
News
Newsletter
At XIAMEN LANDEE INDUSTRIES CO., LTD. you will find an extensive range of Industrial Steel Pipe, Steel Plate, Valve, Flange, Pipe Fitting, Fastener, Gasket and other spare parts for industrial use - more than 50 product types available in over 400 sizes and 20 materials, in fact. And our engineers work tirelessly to innovate and improve. We release one new model every month.
Latest News
- The Importance of Oil Casing in Drilling Operations 12 20, 2024
- Functions and Applications of Blind Flanges 12 17, 2024
- Axial Flow Check Valve: Design, Function and Applications 12 15, 2024
Useful Links
Contact Us
Mr. Kevin Wang
Tel: 86-592-5204188
Fax: 86-592-5204189
Email: [email protected]
Website: www.landee.cn
Copyright © 1994 - 2024 Xiamen Landee Industries Co., Ltd. All Rights Reserved. Privacy Policy | Terms of Service | sitemap
Website Design & Support: jeawin.com