Russia Will Sell 300 BCM Natural Gas To China In 2011
Mar 30, 2007
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According to news reports, Russia will sell 300 BCM of natural gas to China by the year 2011.
China is all set to double its proportion of gas in total energy consumption by the year 2010, as the country will receive 300 bcm from Russia annually.
Lazufo, Russian ambassador for China informed that Russia was planning to provide China with supplies of 300 bcm (Billion Cubic Meter) of natural gas per year. While talking about the project’s complexity he added, "We will step up the project to supply natural gas to China, including furthering progress on the natural gas pipeline project from Russia's Alatai to China's Sinkiang. Because the large-scale project involves substantial investments and many complicated technical details, the project will take a huge amount of time and our experts are studying these details” in a news published on
News Jongo.
The Russian Natural Gas Industry, Ltd devices to construct two pipelines of natural gas connecting China, these pipelines will start supplying natural gas to China by the year 2011. The western pipeline will be supplying natural gas to Sinkang whereas the other in the eastern part will be supplying to the eastern part of the China. “The new project paves Russia’s way not only into China but also into other countries in South and South East Asia and makes it less dependent on supplying gas to Europe” Nezavisimaya Gazeta, a Russian News Paper, reported.
It is evident that Beijing may be complaining that Moscow is keeping the Chinese companies away from the investment opportunities in Russia’s oil and gas fields that are in Russia’s Siberia and the Far East and also the Russian pipelines which lead to Chinese market. To cope up with the reducing productivity in the western Siberian fields Russia is required to focus more on the Eastern Siberian fields. For Gazprom to achieve its production goals for the year 2010, it is required to get credit lines from the West.
Research analyst at RNCOS says, “Russia is considered to be having world’s largest natural gas reserves and also as the second largest producer of oil. At present, Russia is not supplying gas and thus contributes only about 5% of Chinese oil imports. With the pipeline deal, China will be able to double the proportion of gas in the total energy consumption by the year 2010.”
Related Market Research Reports:
Liquefied Natural Gas (LNG) in China
Future Outlook for Global LNG Market (2010)
New Projects Lead to a Boom in the Global LNG Market: Industry Analysis (2005-2010) |
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