Subscribe to our news feedRussia and China gas deal could lead to onshore vacancies
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Published on Tuesday 13th October 2009
Russia and China are set to sign a gas deal that could bode well for onshore vacancies in the respective countries. The two nations are expected to sign an agreement this week when Russian president Vladimir Putin visits China, according to an official from PetroChina the countrys largest gas producer and pipeline operator. Earlier this year an oil contract was created worth $100 billion (£63 billion) between the two states. The new deal will see China become Russias biggest natural gas customer. Reuters reported the official as explaining the meetings this week will not necessarily yield any solid results. "I suspect there will be only tentative principles, instead of solid deals," the representative said. "A concrete agreement would require a lot of preparatory work that we should have been aware of." In related news, French energy giant GDF Suez is expected to join the Nord Stream Project by the end of the year, according to reports. 
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