Gazprom starts negotiations with China

Russia’s state-run gas export monopoly Gazprom will start commercial negotiations with China on gas supplies on Monday, Pavel Oderov, head of Gazprom’s international business department said.

“Commercial negotiations next week will be held in China where all these issues will be discussed,” Oderov said in response to a question about possible Chinese project financing for gas supplies.

The companies plan to sign an export contract by mid-2011, having so far failed to come up with a final agreement on long-term prices. The contract will cover a 30 year period, with annual supply volumes reaching 30 billion cubic meters of gas.

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