The head of Russia's state-run gas company OAO Gazprom (GAZP.RS) said Wednesday negotiations with the China National Petroleum Corp. over a 30-year natural gas supply deal were no longer being held up by disagreements on price and that a deal could be reached this year.
The head of
Russia
's
state-run gas company OAO Gazprom (GAZP.RS) said Wednesday negotiations with
the China National Petroleum Corp. over a 30-year natural gas supply deal were
no longer being held up by disagreements on price and that a deal could be
reached this year.
"Right now, there are no differences," Gazprom Chief Executive Alexei
Miller said, according to Interfax.
He said he hoped the main parameters of the deal would be completed by the
summer. "We have a fairly tough time schedule and hope that by June we
will be able to sign the basic terms of the contract," he said.
Russia
has
been looking to
Asia
for sales as demand falls and
competition rises in
Europe
. Under a preliminary
agreement reached late last month, the two sides said they hoped to see
Russia
begin
shipping 38 billion cubic meters of gas a year to
China
in
2018, with supplies eventually reaching up to 60 billion cubic meters a year.
The two companies have been negotiating for years, but have been wrangling over
price.
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