Russia and China agreed on gas price. Supplies to South Korea to go up to 12 billion cubic meters

Russia and China have agreed on the price formula for Russian gas, the deputy chairman of the Management of Gazprom, A.Medvedev said, RIA Novosti reports.

The question what the starting point of this formula appliance is left open,” Medvedev said at the forum “Oil and gas of Sakhalin”. Moscow offers to pass to equal earning power of gas price for domestic and foreign consumers in 2015.

The Chinese state oil corporation CNPC maps out to purchase the Russian gas. The price was settled as far back as in May, when the difference between the offers made up less than $100. In late June, the sources in Gazprom were hopeful that the deal will be closed before the end of the year. However, Moscow required advanced payment of $40 billion on account of future supplies. Beijing would get discount on the gas price in return. The sources in the Chinese government noted that the offer is unacceptable. They have managed to agree in late September, when the countries have updated the proposals.

Commenting on gas supplies to Asia, Medvedev said that the volume of gas supplies from Russia to South Korea will increase from the present 10 billion cubic meters to 12 billion cubic meters. There appeared information that the gas pipeline may go through the territory of the Democratic People’s Republic of Korea. The volume of supplies through North Korea is being discussed, the deputy chairman of the Board of Management of Gazprom said.

http://www.bfm.ru/news/2011/09/27/rossija-i-kitaj-dogovorilis-o-cene-na-...

Translated by Iraida Idiyatova