Russia, China in talks on loans for oil, gas supplies

3/20/2013

Russia, China in talks on loans for oil, gas supplies

BY JAMES MARSON

MOSCOW -- Russia is in talks with China on receiving loans in return for oil and gas supplies, Russian Deputy Prime Minister Arkady Dvorkovich said.

Russia is looking to increase energy sales to the Asia-Pacific region. Talks to sell gas to China have stalled for years on price, but Gazprom says it wants to conclude a deal by the end of the year.

Rosneft is also in talks on increasing oil supplies to China. Mr. Dvorkovich told reporters the oil could be sent via Kazakhstan or the ESPO pipeline.

Gazprom said in late February it aims to sign a contract to export annually 68 Bcm of gas to China by the end of 2013, while Russian news reports in January suggested Rosneft and China were in talks on nearly doubling supplies from the current 300,000 bopd.

Dow Jones Newswires

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